Target is "deeply troubled" by the Trump administration's escalating trade war, saying it threatens to undermine the U.S. economy, penalizes American families and raises prices on everything from backpacks to playpens.
Target is among the hundreds of retailers and other companies pushing back against President Donald Trump's new 10 percent tariffs on $200 billion in Chinese goods. The U.S. trade representative, Robert Lighthizer, has received almost 6,200 comment letters on the proposed trade penalties so far.
"We are disappointed that despite broadly expressed concerns from companies and groups across a variety of industries, the administration has continued to escalate the threat of tariffs that would penalize American families," Target's chief merchandising officer, Mark Tritton, said in the company's Sept. 6 letter.
Walmart, Sears, Petland, Dollar General and a coalition of roughly 300 retailers — including IKEA North American Services, Kohl's, L.L. Bean, the Gap, Macy's and Under Armour — sent letters strongly opposing the tariffs. The administration levied trade penalties of 10 percent to 25 percent on a variety of consumer products in this latest round that take effect Monday. The tariffs apply to clothing, shoes, home goods, children's products, furniture and other imports from China.