NRF leader: Tariffs are taxes on consumers
After U.S. Trade Representative Robert Lighthizer released a list of Chinese imports subject to new tariffs under the Trump administration, the National Retail Federation (NRF) President and CEO Matthew Shay said tariffs are taxes on consumers and a drag on the nation’s economy.
“While we are pleased that many everyday products such as clothing and shoes are not on the list, we remain concerned that other goods such as consumer electronics and home appliances are targets,” Shay said. ‘And we believe that tariffs on certain machinery will make American-made products more expensive.”
Shay added that the entire process creates uncertainty and makes it difficult for retail companies that must rely on complicated global supply chains.
“Tariffs threaten to hurt consumers, jeopardize job creation and increase the cost of doing business here in the United States,” he added. “Once again, we urge the administration to work with our trading partners to hold China accountable, advance targeted solutions and recognize the unintended consequences of protectionist trade policies.”
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries.