NRF: Tariffs will ‘punish ordinary Americans’
The Trump administration’s plans to impose broad tariffs on consumer products from China drew a swift response from the National Retail Federation.
“Holding China accountable for refusing to follow global trading rules is important and necessary, but instead, the tariffs proposed by the administration will punish ordinary Americans for China’s violations,” said NRF president Matthew Shay.
Shay said that engaging in a trade war with China will erase gains from the benefits of tax reform and result in higher prices for a wide range of consumer products and basic household goods.
“And the tariffs will create uncertainly for retailers and other businesses who are prepared to reinvest savings from the tax cut in capital investments, wage increases, workforce training and new jobs in communities across the country,” he added. “We urge the administration to reconsider and instead work with our trading partners to enforce the rules and advance targeted trade remedies.”
“Holding China accountable for refusing to follow global trading rules is important and necessary, but instead, the tariffs proposed by the administration will punish ordinary Americans for China’s violations,” said NRF president Matthew Shay.
Shay said that engaging in a trade war with China will erase gains from the benefits of tax reform and result in higher prices for a wide range of consumer products and basic household goods.
“And the tariffs will create uncertainly for retailers and other businesses who are prepared to reinvest savings from the tax cut in capital investments, wage increases, workforce training and new jobs in communities across the country,” he added. “We urge the administration to reconsider and instead work with our trading partners to enforce the rules and advance targeted trade remedies.”