Wednesday, 26 June, 2019

Trump talks trade with Apple CEO Cook as China dispute looms

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Deanna Wagner | 14 June, 2019, 19:59

Washington, Jun 14 (Prensa Latina) More than 600 U.S. companies have expressed their concern to President Donald Trump over the negative effects of the tariffs imposed on China and his plans to implement additional taxes.

The U.S. Trade Representative will hold public hearings on the proposed tariffs from Monday.

A total of 661 USA companies and associations have signed a letter to President Donald Trump, urging his administration to abandon tariff hikes and reach a deal with China.

"We remain concerned about the escalation of tit-for-tat tariffs", the firms were quoted as saying in a joint letter on Thursday.

"We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the U.S. economy", the companies said in the letter. -China trade tensions escalate and comes before a possible meeting between Trump and Chinese President Xi Jinping at the June 28-29 G20 summit in Osaka, Japan.

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"We are counting on you to force a positive resolution that removes the current tariffs, fosters American competitiveness, grows our economy and protects our workers and customers", the companies and groups wrote.

"It looks like we're moving in that direction", White House spokesman Hogan Gidley told Fox News Channel when asked if the two leaders would have a bilateral meeting.

In the letter dated June 13, the business entities - including big-name retailers such as Walmart Inc., Macy's Inc. and Target Corp. - urged the president to return to the bargaining table and negotiate a deal to end the yearlong trade dispute between the world's two largest economies.

The United States kicked off a tariff battle with China in 2018, seeking sweeping structural changes from Beijing. The administration increased tariffs from 10% to 25% on $200 billion worth of Chinese goods last month. He urged the Trump administration focus on how trade helps a broad number of people in the country and "not just those it harms".

Trump reportedly spoke with Cook about "trade, US investment, immigration and privacy", White House spokesman Judd Deere said.