Trump Confronting China on Trade Risks Corporate Backlash

In 2011, trade groups representing companies including Microsoft Corp. and Wal-Mart Stores Inc. lobbied against legislation to pressure China to raise the value of its currency. The U.S.-China Business Council, a Washington-based group representing more than 200 companies doing business in China, wrote a letter to lawmakers in 2011 to argue that unilateral legislation on the issue of the yuan would be counterproductive.