By  on March 19, 2018

Retailers are worried that a broad reduction in their corporate taxes courtesy of the Trump Administration will be “wiped out” by the looming possibility of new trade tariffs against China.

Retailers and brands like Walmart Inc., Target Corp., Levi Strauss & Co., Gap Inc., VF Corp. and Abercrombie & Fitch, among others, sent a letter to President Trump urging his administration to rethink proposed import tariffs against China as possible retaliation for its alleged “intellectual property theft” from U.S. companies. The retailers are framing possible import tariffs as a negative for “American families” and a “hidden tax” because if the cost of goods imported from China goes up, companies will pass the increase on to consumers.

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