First on CNN Business: 600 companies including Walmart, Costco and Target warn Trump on tariffs

Source: CNN | June 13, 2019 | Nathaniel Meyersohn

New York (CNN Business) – American retailers, manufacturers and tech companies warned President Donald Trump on Thursday that tariffs on China will damage the US economy, lead to job losses and harm millions of consumers.

More than 600 companies and industry trade associations — including Walmart, Costco, Target, Gap, Levi Strauss and Foot Locker — wrote to the White House urging Trump to remove levies on China and end the ongoing trade war.

“We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the US economy,” the companies said in the letter. “An escalated trade war is not in the country’s best interest, and both sides will lose.”

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