Published: Fri, June 14, 2019
Worldwide | By Isabel Fisher

Apple CEO Tim Cook visits White House for jobs meeting, report says

Apple CEO Tim Cook visits White House for jobs meeting, report says

"Tariffs are taxes paid directly by US companies ... not China".

The president has also warned that he would impose more tariffs on $300 billion dollars worth of goods from China.

A group of more than 600 USA companies, including Walmart Inc. and Target Corp., urged President Donald Trump to end the tariff war with China on Thursday, saying American businesses and consumers are being hurt.

"We remain concerned about the escalation of tit-for-tat tariffs", the firms were quoted as saying in a joint letter on Thursday.

'We know firsthand that the additional tariffs will have a significant, negative and long-term impact on USA companies, farmers, families and the economy of the United States, ' they said. Investors wait and watch to see how the meeting between Trump and his Chinese counterpart Xi Jinping progresses at the G20 summit. The White House did not immediately respond to a request for comment. "We are hopeful that as consumers express their concerns about the serious impact these tariffs will have on their family budget, the president will reach a resolution with China that eliminates tariffs and sets our economy back on a path for continued growth".

Walmart, the largest USA private sector employer and the world's largest retailer, has said tariffs will increase prices for American consumers.

Some 600 American retailers, farmers, and manufacturers, which include Walmart and Levi Strauss, signed the letter, and urged Trump to forego levies on Beijing amid an ongoing trade war between the two countries. Prices on many goods imported from China, including vacuum cleaners, are likely to rise as President Trump enacted new tariffs on $200 billion worth of Chinese products. "Broadly applied tariffs are not an effective tool to change China's unfair trade practices".

Trump reportedly spoke with Cook about "trade, USA investment, immigration and privacy", White House spokesman Judd Deere said.

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