NRF urges administration to repeal China tariffs
The National Retail Federation (NRF) called on the Biden administration to repeal tariffs on goods from China, citing Consumer Price Index numbers released by the Bureau of Labor Statistics.
“This report showing that rampant inflation continues is one more reason for the administration to move quickly to repeal tariffs,” Matthew Shay, president and CEO for NRF said. “Independent researchers and government agencies agree that ending tariffs is the fastest way to relieve the pressure of higher prices that American businesses, workers and consumers are facing every day. While the Federal Reserve continues with its long-term strategy to stem inflation, we need the administration and Congress to move forward on steps to lower prices that can be taken immediately. Repealing tariffs is one of those steps and one of the most effective and meaningful.”
NRF earlier this week launched an ad campaign calling on the administration to repeal tariffs on goods from China that have cost U.S. importers $136.5 billion since 2018. The tariffs have driven up prices for American consumers, costing the average family more than $1,200 a year.
The National Retail Federation, 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 nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs — 52 million working Americans. For more information, visit nrf.com.