Call hundreds of companies: Trump, solve Trade war with China. In a letter to US President Donald Trump, 661 companies and organisations are calling on him to go back to China for a trade agreement.
The signatories, including Walmart, Levi Strauss and Primark, are concerned about the escalation of the “tit-for-tat rates” that China and the United States impose on each other.
They state that the import tariffs are paid directly by themselves and not by China, as Trumps intended.
At the beginning of May, the US increased rates on Chinese import products worth 200 billion dollars from 10 to 25 percent.
He also threatened to introduce prices for other products with a total value of 325 billion dollars.
It would not only result in the loss of two million US jobs but also in 2,000 dollars in costs for the average US household and a 1 percent reduction in US GDP,
write the companies based on research from Trade Partnership Worldwide LLC.
“We acknowledge that our trading partners must comply with global trade rules,” write the partners.
But: “We believe that this goal can be achieved without taxing Americans.”
That is why they are calling on Trump to once again sit at the table with China.
“A trade conflict that has got out of hand is not in the country’s interest, and both parties will lose.
We are counting on you to find a positive solution that will reverse current rates, strengthen US competitiveness,
grow our economy and protects employees and customers. “