Home / Knowledge / News / NRF: Senate Bill is wrong approach on China currency
NRF: Senate Bill is wrong approach on China currency
12
Oct '11
The National Retail Federation expressed disappointment at legislation expected to receive final passage by the Senate this evening that would pressure China to allow its currency to float more freely.

“We agree that the yuan should be allowed to float more freely but the proper way to achieve that goal is through a multilateral approach and diplomatic negotiations,” NRF Vice President and International Trade Counsel Erik Autor said. “Trying to force China's hand isn't likely to work and could open the door to retaliation against U.S. goods that would threaten American jobs at companies who do business with China. While the U.S. has legitimate issues with China that need to be resolved, it's important to see China as a key trading partner, not the enemy.”

Tonight's vote comes as NRF President and CEO Matthew Shay is in China for a four-day trade mission intended to strengthen the U.S. retail industry's ties there. Increased global outreach is a key component of NRF's Retail Means Jobs campaign.

As the world's largest retail trade association and the voice of retail worldwide, NRF's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the United States and more than 45 countries abroad. In the United States, NRF represents an industry that includes more than 3.6 million establishments and which directly and indirectly accounts for 42 million jobs – one in four U.S. jobs. The total U.S. GDP impact of retail is $2.5 trillion annually, and retail is a daily barometer of the health of the nation's economy.

National Retail Federation


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search