Is latest US tariff list a gamble?
Far
too great a gamble
for
the U.S. economy
The
National Retail Federation (NRF) issued the following statement from President
and CEO Matthew Shay after the Trump administration released a list of $300
billion of Chinese goods that will be targeted by additional tariffs of 25
percent.
“We
support the administration’s efforts to deliver a meaningful trade agreement
that levels the playing field for American businesses and workers. But the
latest tariff escalation is far too great a gamble for the U.S. economy.
Slapping tariffs on everything U.S. companies import from China – goods that
support U.S. manufacturing and provide consumers with affordable products –
will jeopardize American jobs and increase costs for consumers.
“Taxing
Americans on everyday products like clothes and shoes is not the answer for
holding China accountable. Working with our allies who share the same concerns
and immediately rejoining TPP are more effective ways to put pressure on China
without hurting hardworking Americans. We urge the U.S. and China to get these
critical negotiations back on track. Both sides will lose in a full-blown trade
war, and the global economy will suffer.”
A
study commissioned by Tariffs Hurt the Heartland and prepared by Trade
Partnership estimated that imposing tariffs of 25 percent on all remaining
imports from China, combined with the impact of retaliation, would jeopardize
more than 2 million American jobs, cost the average U.S. family of four $2,300
each year and reduce the value of U.S. GDP by 1 percent.
NRF, the world’s 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 USA’s largest private sector
employer, contributing $2.6 trillion to annual GDP and supporting one in four
US 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.
Comments
Post a Comment