Over 100 American multinational companies and a number of trade organizations petitioned Congress to reject protectionist legislation against China in Thursday.

In particular, the lobby group believes that pending bills which would impose tariffs against China in retaliation for the undervalued Yuan, or unsafe imports, were not in the best interests economy.

"Imposing unfair barriers to trade in the name of currency valuation or product safety is not a solution to the underlying concerns, and it ultimately undermines the important work that should be undertaken to prepare our economy and our workers for the realities of the global economy," the letter read.

The 119 companies and 38 trade associations covered a range of industries, including IT sector such as Intel, Microsoft, IBM, HP, large retail chains such as Wal-mart and Bestbuy. Financial institutions such as Citigroup, and Morgan Stanley were also supporting the move.

"Conversely, policies that single out individual countries as responsible for the United States' broader concerns will not be effective and should be rejected, as should approaches that violate the United States' own international obligations or that improperly restrict access to the US market," it said. "Doing so can only undermine US credibility and competitiveness and put US exports at substantial risk of retaliatory action."

Currently, the United States Senate and House of Representatives have trade bill about China, they are waiting for a full vote.

China Ibm