Reuters reported that 45 U.S. trade associations representing some of the largest companies in the country are urging President Donald Trump not to impose tariffs on China, warning it would be "particularly harmful" to the U.S. economy and consumers. The organizations said in a letter sent to Trump on Sunday that potential tariffs on China would raise prices on consumer goods, kill jobs and drive down financial markets. The letter marks the latest in a growing rift between Trump and the business community on trade policies, as the president has begun to take more aggressive steps he says are needed to protect domestic industry. "We urge the administration not to impose tariffs and to work with the business community to find an effective, but measured, solution to China's protectionist trade policies and practices that protects American jobs and competitiveness," the groups wrote. "Tariffs would be particularly harmful," they said.

The Wall Street Journal reported that global finance ministers meeting this week in Buenos Aires were planning to focus on topics like the workforce in an age of automation and how to boost infrastructure investment. Instead, their attention has turned to U.S. tariffs on steel and aluminum. Finance ministers and central bankers are meeting under the auspices of the Group of 20 summit, a gathering of leaders who represent 80% of the world's economy. The U.S. would like an agenda focused on its concerns about China. Instead this year's summit will involve much of the world trying to pressure the U.S., with French, German and Brazilian officials identifying the latest U.S. tariff moves as a focus of discussion. "We are all very concerned about the possibility of a trade war," said Marcello Estevão, the Brazilian Finance Ministry's secretary of international affairs, in a phone interview from Buenos Aires. He said Brazil planned to highlight protectionism as a risk to the global economic outlook, adding that "a majority of countries are with us" in taking this view. On his way to Argentina, German Finance Minister Olaf Scholz said the G-20 was the right body to discuss trade. "I believe the world is growing together and should remain together. Free trade is a very important resource," he said. Protectionism, he said, "has, of course, to be discussed." His French counterpart, Bruno Le Maire struck a similar line. "We don't believe in protectionism, and that we need to have a firm, united and European response to the latest decisions taken by our American partner and ally."