RILA: Reciprocal tariffs will ‘raise costs on every American family’
The nation’s retail groups were quick to respond to the Trump administration’s reciprocal tariffs plan, with all voicing concerns that the end result will be increased prices for consumers.
Retail Industry Leaders Association
“The President’s plan for universal tariffs on household goods – including clothing, groceries, home goods and school supplies – will raise costs on every American family,” said RILA senior executive VP, public affairs Michael Hanson. ”The President’s plan is not a targeted attempt to protect American innovation or national security but will hit every family’s budget. Americans cannot afford another round of price increases.”
The newly announced tariffs — and the expected retaliatory tariffs on American businesses — risk destabilizing the U.S. economy, undermining the goals of bolstering domestic manufacturing and growth, warned Hanson.
“We urge the President and his economic team not to abandon the pro-growth policies that powered his first term — namely the Tax Cut and Jobs Act,” he said. “Before lasting damage is done to the economy and family budgets, we urge the White House to reconsider its course.”
National Retail Federation
“More tariffs equal more anxiety and uncertainty for American businesses and consumers. While leaders in Washington may not care about higher prices, hardworking American families do,” said David French, executive VP of government relations, NRF. “Tariffs are a tax paid by the U.S. importer that will be passed along to the end consumer. Tariffs will not be paid by foreign countries or suppliers.
French noted that the immediate implementation of these tariffs is a massive undertaking, requiring both advance notice and substantial preparation by the millions of U.S. businesses that will be directly impacted.
“We encourage President Trump to hold trading partners accountable and restore fairness for American businesses without creating economic uncertainty and higher prices for American families,” he said.
Earlier this week, the NRF released a survey conducted by Morning Consult which found that most voters believe the government should make bringing down inflation and the cost of groceries and other everyday goods their top priority, rather than price-raising policies such as tariffs.
Food Marketing Institute
“While we have witnessed several positive steps that have reduced unnecessary regulatory burdens on our industry, we are concerned that today’s tariff announcement could bring rising prices, a squeeze on household budgets and reduced competitiveness for American companies relative to international competitors,” stated FMI president and CEO Leslie G. Sarasin.
“The uncertainty and inflationary pressures created by reciprocal tariffs are a major worry for American consumers and our food industry member companies that operate on slim 1.6% retail and 7.5% food manufacturing net margins," added Sarasin.
According to FMI’s March Grocery Shopper Snapshot survey, 54% of grocery shoppers cited increased tariffs on imported food as their biggest concern related to the price of groceries, a five-percentage point increase from January.
“Our food system is intricately linked with global markets − including products not grown in the United States like bananas or seasonal items − which helps keep prices down while providing American shoppers year-round access to safe, nutritious food,” said Sarasin.
