More than 300 companies are talking to government officials in Washington about the how detrimental the trade war is.
threatened to slap on China would impact their businesses and cause them to lose out to business to foreign competitors.
Corporate America and Wall Street are hoping the beginnings of a new deal can be hatched at the G20 Summit later this week when Trump and President Xi Jinping are set to meet.Jason Bonfig, Best Buy's chief merchandising officer "American manufacturers may lose share almost immediately to foreign competitors whose products are not made in China and, therefore, not subject to price increases in the form of tariffs.""We have certainly encountered IP related challenges in China. However, we don't view broad-based tariffs as the most effective response... We are concerned, however, that the proposed tariffs ironically would help rather than hinder infringers.
"So what will happen if a tariff is levied on greeting cards? First, the tariff will impair the competitiveness of our entire greeting card line and undermine the stability of key U.S. operations, including manufacturing, creative, and retail jobs. Two, given the industry practice of printing the price on the cards, a tariff will present a pricing fiasco. We simply can't raise prices.""These tariffs could have a detrimental impact on Roku and its U.S.-based workforce.
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