Washington - More than 600 US 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.
In a letter sent to the occupant of the White House on Thursday, companies like Walmart, Costco, Target, Gap, Levi Strauss and Foot Locker urged the president to remove the tariffs and end the trade war against China.
'We know firsthand that the additional tariffs will have a significant, negative and long-term impact on US companies, farmers, families and the economy of the United States,' they said.
'An intensified commercial war is not the best for the country and both parties will lose,' added the letter, which refuted Trump's statement that China pays the tariffs and that they are beneficial for the US, because the State's coffers receive more revenues.
The tariffs are taxes directly paid by US companies, not China, the signatory companies said, adding that the increase in tariffs and the uncertainty about the trade negotiations have created turmoil in markets and threaten economic growth.
Last month, the Trump administration increased tariffs on Chinese products, including mattresses, handbags, bicycles, vacuum cleaners and air conditioners, from 10 to 25 percent, for a total value of 200 billion dollars a year.
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