The National Retail Federation today issued the following statement from Senior Vice President for Government Relations David French after the Trump administration announced that a scheduled tariff hike from 25 percent to 30 percent on $250 billion worth of goods from China will not take place next week as negotiators finalize a tentative trade deal.
Retailers are encouraged by the progress made between the United States and China and are pleased that the administration has listened to the concerns of the business community as the trade war takes an increasing toll on the American economy. The decision to delay planned tariff hikes is welcome news to U.S. retailers and consumers heading into the busy holiday shopping season. Although this is a step in the right direction, the uncertainty continues. We urge both sides to stay at the negotiating table with the goal of lifting all tariffs and fundamentally resetting U.S.-China trade relations.
The National Retail Federation, the worlds largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nations largest private-sector employer, contributing $2.6 trillion to annual GDP and supporting one in four U.S. jobs 42 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies.
J. Craig Shearman (855) NRF-PRESS