First on CNN Business: 600 companies including Walmart, Costco and Target warn Trump on tariffs

More than 600 companies and industry trade associations — including Walmart, Costco, Target, Gap, Levi Strauss and Foot Locker — wrote to the White House urging President Trump to remove levies on China and end the ongoing trade war

More than 600 companies and industry trade associations — including Walmart, Costco, Target, Gap, Levi Strauss and Foot Locker — wrote to the White House urging Trump to remove levies on China and end the ongoing trade war. "We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the US economy," the companies said in the letter.

Treasury Secretary Steven Mnuchin said last month at a House committee hearing that he doesn't expect there will be"significant costs" for consumers."I don't necessarily agree with that," said Mnuchin when pressed by Democrat Representative Cindy Axne of Iowa on whether prices of consumer goods would be higher.

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