Hundreds of Companies Tell Trump to End the Trade War

Trump defends his China strategy Beijing says ‘not afraid’ of trade war

Such tariffs would also affect domestic manufacturers - considering that many materials necessary for production are sourced through China and unavailable in the USA - as well as footwear jobs, with a number of member companies already making attempts to relocate their supply chains outside of China. Investors wait and watch to see how the meeting between Trump and his Chinese counterpart Xi Jinping progresses at the G20 summit.

Trump has repeatedly said he expects to meet Xi at the G20 gathering to talk about the trade dispute between the two nations. Walmart has said it will raise prices as a result of the Trump administration's tariffs on Chinese-made goods as the trade war is about to take a bite into the retail sector affecting consumers shopping at stores like Walmart, Target and Macy's.

Adding that information of a Trump-Xi talk would be released once it was available to the Chinese foreign ministry, a Chinese foreign ministry spokesman, Geng Shuang said, "China does not want to fight a trade war, but we are not afraid of fighting a trade war". Sources have told Reuters that there has been little preparation for a meeting even as the health of the world economy is at stake.

"We remain concerned about the escalation of tit-for-tat tariffs", the companies and groups said in the letter.

The United States kicked off a tariff battle with China in 2018, seeking sweeping structural changes from Beijing.

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

With less than three weeks to go before proposed talks between the Chinese and US leaders, expectations for progress toward ending the trade war are low.

According to the White House, Mr Trump decided not to launch a major trade war against its southern neighbour and key strategic ally and economic partner after Mexico agreed to increase efforts to control the flow of migrants from Central America and in particular to hold those seeking USA entry inside Mexico until their claims have been processed.

Last month, the Trump administration increased tariffs on Chinese products, including mattresses, handbags, bicycles, vacuum cleaners and air conditioners, from 10 to 25 percent, for a total value of 200 billion dollars a year.

Walmart, the largest USA private sector employer and the world's largest retailer, has said that tariffs will increase prices for U.S. consumers. He urged the Trump administration focus on how trade helps a broad number of people in the country and "not just those it harms".

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