Over 600 USA firms urge Trump to resolve trade dispute with China

Mexican soldiers ride in the back of a pick up truck as they escort the caravan carrying Mexico's Minister of Defense in Tapachula Mexico Tuesday

Mexican soldiers ride in the back of a pick up truck as they escort the caravan carrying Mexico's Minister of Defense in Tapachula Mexico Tuesday

The CEO Economic Outlook Index, a gauge of business confidence of big US corporations issued quarterly by the Washington-based Business Roundtable, decreased 5.7 points in the second quarter to a value of 89.5.

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

Even more worrying is the possibility that Mr Trump - energised by his "victory" in using trade policy in the immigration dispute with Mexico, would now be less inclined to conclude a trade deal with China and more inclined to carry out his threat of of 25 per cent tariffs on European and Japanese autos. Sources have told Reuters there has been little preparation for a meeting even as the health of the world economy is at stake. But other issues have overwhelmed the industry more recently, including the trade war between the US and China and concern about the sector's rising power.

"Broadly applied tariffs are not an effective tool to change China's unfair trade practices", the letter reads.

With less than three weeks to go before proposed talks between the Chinese and US leaders, expectations for progress toward ending the trade war are low.

Apple CEO Tim Cook reportedly visited the White House and met US President Donald Trump and his eldest daughter Ivanka Trump as part of his work with the White House workforce advisory board.

Smoking cannabis began in China at least 2,500 years ago
People sought and later cultivated more psychoactive varieties of cannabis for use in burial rituals . The ancient cannabis was most likely used during rituals to commemorate the dead at funerals.

Household vacuum cleaners which were produced in China are lined up for sale in a Target store on May 13, 2019 in Los Angeles, California.

Walmart, the largest US private-sector employer and the world's largest retailer, has said tariffs will increase prices for USA consumers. On Wednesday, he participated in an event on Capitol Hill hosted by the U.S. Chamber of Commerce in coordination with the Congressional Digital Trade Caucus, titled "Digital Trade: Empowering U.S. Small Business to Export".

AFTER raising economic uncertainty and unnerving the financial markets for close to two weeks, USA president Donald Trump announced last Friday that he was "indefinitely suspending" his May 30 threat to unilaterally raise tariffs up to 25 per cent on American imports from Mexico as part of an effort to punish it for allegedly failing to end illegal immigration across its border into the United States.

They would also add more than $2,000 in costs for the average American family of four and reduce the value of U.S. Gross Domestic Product by 1%, it said.

More than 600 companies and trade groups sent a letter to the Trump Administration warning of catastrophic effects on American consumers from the escalation of tariffs on Chinese goods.

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