More than 600 companies, including Walmart Inc, Target Corp, urged U.S. President Donald Trump
to resolve the
trade dispute with China that totally affects American
businesses and consumers. More than 150 trade groups representing agriculture,
manufacturing, retail and tech industries supports the national campaign against
tariffs.
The American international consultancy the Trade
Partnership reported that additional 25%
tariffs on $300 billion in imports, on top of those already
levied, would wipe out more than 2
million U.S. jobs. They would also add more than $2,000 in
costs for the average American family of four and reduce the value of U.S.
Gross Domestic Product (GDP) by 1%.
Trump-Xi
to meet:
It is significant that U.S and China comes
before a possible meeting between Trump and Chinese President Xi Jinping at the
June 28-29 G20
summit in Osaka, Japan. Trump and Xi will meet on the
sidelines of the summit and decide whether to extend tariffs to almost all
Chinese imports after that.
