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

Apparel/Garments | On 24th Mar 2017

UK online retail sales up 15% in February 2017

Online retail sales in UK have grown by 15 per cent year-on-year in...

Courtesy: Messe Frankfurt

Textiles | On 24th Mar 2017

Over 3341 exhibitors participate in Intertextile Shanghai

More than 3,341 exhibitors from 26 countries and regions participated ...

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search