Major retailers to Trump: New China tariffs will hurt American shoppers

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"In the USA, those who can afford less pay more because the US levies the highest tariffs on basic consumer goods", the letter states.

The letter, sent by RILA and signed by a wide array of popular and well-known, leading U.S. retailers clearly shows the lack of support from the group of Trump's proposed tariffs on China imports into the country.

Wall-Mart shares closed higher Friday, ahead of a letter sent by the Retail Industry Leaders Association (RILA) to the White House, highlighting the potential damage the tariffs U.S. president Trump is planning for China, could have on the United States economy.

"It's not too late for President Trump to reverse course on steel tariffs", said AEM President Dennis Slater in a statement.

USA officials should "work with like-minded partners to address common concerns with China's trade and investment policies", the letter reads. On Sunday, a group of trade associations that represent most of the United StatesĀ“ large businesses penned a letter echoing concerns about the economic ramifications of tariffs.

"The [Trump] administration should not respond to unfair Chinese practices and policies by imposing tariffs or other measures that will harm U.S. companies, workers, farmers, ranchers, consumers and investors", the groups said in the letter.

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Trade associations publicly pushing back include the US Chamber of Commerce, the National Retail Federation and the Information Technology Industry Council.

The president recently announced plans to impose tariffs on certain steel and aluminum imports, despite opposition from some business sectors.

US Treasury Secretary Steven Mnuchin, who will attend a two-day meeting of the Group of 20 finance ministers, is expected to defend Trump's trade plans against widespread global criticism.

Another leading business group on Monday launched a television advertising campaign opposing President TrumpDonald John TrumpAccuser says Trump should be afraid of the truth Woman behind pro-Trump Facebook page denies being influenced by Russians Shulkin says he has White House approval to root out "subversion" at VA MORE's plans to impose steep tariffs on steel and aluminum imports.

But any USA individual or organization may object to the exemption setting up a battle between domestic steel and aluminum producers that could benefit from the protective tariffs and companies that rely on imports.

An early draft of the G20 communique seen by Reuters contained that phrase and added: "We note the importance of bilateral, regional and plurilateral agreements being open, transparent, inclusive and WTO-consistent, and commit to working to ensure they complement the multilateral trade agreements".

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