NRF welcomes delay of tariff increase
The National Retail Federation’s (NRF) President and CEO Matthew Shay commended President Donald Trump for his efforts to restore a fair and balanced trade relationship with China. The White House announced it was holding off on tariff increases set to take effect in January 2019.
“The administration’s decision to give diplomacy a chance and at least temporarily avoid the imposition of increased and additional tariffs is an encouraging sign,” Shay said. “It is clear the administration has heard the voices of those negatively impacted by existing tariffs. We hope this 90-day tariff pause will lead to a positive resolution that removes tariffs altogether and improves U.S.-China trade relations.”
NRF and a coalition of nearly 150 organizations representing retailers, farmers, manufacturers and technology companies sent a letter to the White House last week urging the administration to negotiate with China and forgo a January tariff increase. NRF and its small retail members also held meetings with the administration last week ahead to express the importance of removing existing tariffs and avoiding future increases.