Big retailers urge Trump to solve trade dispute with China

Major US retailers Walmart Inc and Target Corp, along with more than 600 other companies and organizations, urged US President Donald Trump in a letter Thursday to resolve the trade dispute with China, saying tariffs hurt American businesses and consumers.

The letter is the latest of many sent to the Trump administration by Tariffs Hurt the Heartland, a national campaign against tariffs supported by more than 150 trade groups representing agriculture, manufacturing, retail and tech industries.

Major US West Coast ports — Long Beach, Los Angeles and Oakland in California, and Seattle and Tacoma in Washington — where products from China arrive, also signed.

"Mr. President, we support your efforts to hold our trading partners accountable, level the playing field for American businesses and forge enforceable trade agreements. We urge your administration to get back to the negotiating table while working with our allies to develop global, enforceable solutions," the letter said.

"An escalated trade war is not in the country's best interest, and both sides will lose. 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 White House did not immediately respond to a request for comment.

Walmart, based in Bentonville, Arkansas, the largest US private sector employer and the world's largest retailer, has said tariffs will increase prices for US consumers.

"Trade overall has been good for Americans, good for consumers ... and I realize it gets criticized at times," Walmart Chief Executive Officer Doug McMillon said last week.

He urged the Trump administration to focus on how trade helps a wide number of people in the country and "not just those it harms".

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

They would also add more than $2,000 in costs for the average American family of four and reduce the value of US gross domestic product by 1 percent, it said.

Among the other companies signing the agreement were major clothing retailers J.C. Penney, Gap, Levi's, Macy's, J. Crew and Ralph Lauren.

A diverse range of trade groups also signed, such as the US-China Business Council and the Maine Lobster Dealers' Association.

The letter also was copied to US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, Agriculture Secretary Sonny Perdue and National Economic Council Director Larry Kudlow.

Lighthizer's office will hold hearings on the latest proposed tariffs starting Monday.

REUTERS, CHINA DAILY