A wide range of U.S. companies told a hearing in Washington on Monday that they have few alternatives other than China for producing clothing and other consumer goods as the Trump administration prepares new tariffs.
The U.S. Trade Representative's Office on Monday will kick off seven days of testimony from U.S., manufacturers and other businesses about President Donald Trump's plan to hit another round of Chinese goods with tariffs.
Walmart Inc, Target Corp and more than 600 other companies urged U.S. President Donald Trump in a letter on Thursday to resolve the trade dispute with China, saying tariffs hurt American businesses and consumers.
The US is studying how proposed tariff increases on roughly another $300 billion in Chinese imports will affect consumers and is at least a month away from enacting them, U.S. Treasury Secretary Steven Mnuchin said.
China reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates.
President Donald Trump on Sunday increased pressure on China to reach a trade deal by announcing he will hike U.S.tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon.