Retail groups oppose steel and aluminum tariffs; ‘tax on American families’
Two of the nation’s largest retail associations have come out against President Trump’s plans to order new tariffs on steel and aluminum.
"Today’s announcement that the Trump Administration intends to unilaterally impose tariffs on steel and aluminum imports could have severely negative consequences for the American economy,” said Hun Quach, VP of international trade, Retail Industry Leaders Association. “If broadly applied, these tariffs will have a downstream impact on every sector, and will raise the stakes for other countries to take retaliatory measures that will hurt America’s exporters.”
The National Retail Federation called the proposed tariffs “a tax on American families.
“When costs of raw materials like steel and aluminum are artificially driven up, all Americans ultimately foot the bill in the form of higher prices for everything from canned goods to electronics and automobiles,” said Matthew Shay, president and CEO, NRF. The reality is that there is nothing this country will gain from such a one-sided policy. These tariffs threaten to destroy more U.S. jobs than they will create while sending an alarming signal to our trading partners and diminishing markets for American-made products overseas.”
"Today’s announcement that the Trump Administration intends to unilaterally impose tariffs on steel and aluminum imports could have severely negative consequences for the American economy,” said Hun Quach, VP of international trade, Retail Industry Leaders Association. “If broadly applied, these tariffs will have a downstream impact on every sector, and will raise the stakes for other countries to take retaliatory measures that will hurt America’s exporters.”
The National Retail Federation called the proposed tariffs “a tax on American families.
“When costs of raw materials like steel and aluminum are artificially driven up, all Americans ultimately foot the bill in the form of higher prices for everything from canned goods to electronics and automobiles,” said Matthew Shay, president and CEO, NRF. The reality is that there is nothing this country will gain from such a one-sided policy. These tariffs threaten to destroy more U.S. jobs than they will create while sending an alarming signal to our trading partners and diminishing markets for American-made products overseas.”