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June 13, 2019, 10:08 p.m. EDT

U.S. companies urge Trump to find solution to end trade war

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By Mike Murphy

A group of more than 600 U.S. companies, including Walmart Inc. /zigman2/quotes/207374728/composite WMT +0.52% and Target Corp. /zigman2/quotes/207799045/composite TGT +0.66% , urged President Donald Trump to end the tariff war with China on Thursday, saying American businesses and consumers are being hurt. The letter, from the group Tariffs Hurt the Heartland , said that while "we agree that our trading partners must abide by global trade rules . . . we believe this goal can be achieved without taxing Americans." Broad tariffs are ineffective, the letter said, and "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 group urged fresh negotiations to reach a trade deal with China. "An escalated trade war is not in the country's best interest, and both sides will lose," they said. The U.S. and China have had no trade talks since early May. Trump has threatened to raise tariffs to 25% on an additional $300 billion on Chinese goods -- effectively covering all Chinese imports to the U.S. -- if President Xi Jinping does not meet with him at the G-20 summit in Japan later this month.

$ 136.70
+0.71 +0.52%
Volume: 9.82M
Sept. 24, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$385.36 billion
Rev. per Employee
$ 152.00
+0.99 +0.66%
Volume: 3.22M
Sept. 24, 2020 4:02p
P/E Ratio
Dividend Yield
Market Cap
$75.60 billion
Rev. per Employee

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