More than 600 companies, including Wal-Mart, the largest supermarket in the United States, wrote to Trumps government on the 13th, saying that tariffs would hit American businesses and consumers, demanding that the US-China economic and trade disputes be resolved as soon as possible. Tariffs on various commodities are not an effective way to change unequal trade practices. Tariffs are paid by American companies, not by China.
In recent days, 150 U.S. industry organizations representing agricultural, manufacturing, retail and technology enterprises have formed a nationwide lobbying campaign called Tariff Injury Centers. This letter from more than 600 companies is also part of this campaign.
A hearing on tariff increases on Chinese imports to the United States will begin next week. According to the forecast of professional advisory bodies, if the tariff increases are implemented, more than 2 million jobs will be lost in the United States. Tariffs will also increase the financial burden of ordinary American households. For a family of four, for example, annual expenditure may increase by more than $2,000, which will also reduce the GDP of the United States by 1%.
Source: responsible editor of CCTV News Mobile Network: Yang Yi_NBJ10647