Trump talks trade with Apple CEO Cook as China dispute looms

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Trump's Trade Fight with China Earns Limited Bipartisan Support

Walmart, Target, Macy's and hundreds of other companies and associations made a plea to US President Donald Trump not to impose additional tariffs on Chinese goods, and to return to the negotiating table to strike a trade deal with Beijing.

"We know firsthand that the additional tariffs will have a significant, negative and long-term impact on American businesses, farmers, families and the USA economy", the letter said.

"The overall economic burden will hurt China more than it hurts us", said Larry Kudlow, director of the White House's National Economic Council.

"Broadly applied tariffs are not an effective tool to change China's unfair trade practices", the letter reads.

Additional 25 percent tariffs on US$300 billion in imports, on top of those already levied, would wipe out more than 2 million U.S. jobs, the letter said, citing estimates from global consultancy the Trade Partnership.

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But it is significant as U.S. He has said he will make a decision sometime after the G20 summit in Osaka, Japan at the end of June, where he hopes to meet with Chinese President Xi Jinping.

The move comes just two weeks after five major footwear industry associations - including the Footwear Distributors & Retailers of America, American Apparel & Footwear Association and Sports & Fitness Industry Association, all of which also signed the Tariffs Hurt the Heartland letter - came together to send a joint note to Trump expressing concern over the impact of tariffs on businesses and consumers. The White House didn't immediately respond to a request for comment.

Walmart, the largest US private-sector employer and the world's largest retailer, has said tariffs will increase prices for USA consumers.

America's retailers, manufacturers, tech companies and industry associations joined together to warn that tariffs on China will damage the USA economy.

'An intensified commercial war is not the best for the country and both parties will lose, ' added the letter, which refuted Trump's statement that China pays the tariffs and that they are beneficial for the USA, because the State's coffers receive more revenues.

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