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NRF, AAFA oppose Trump threat to hike tariffs on PRC goods
07 May '19
2 min read
Pic: Sascha Hormel from Pexels
Responding to President Donald Trump’s threat to raise tariffs on $200 billion worth Chinese goods from 10 to 25 per cent, the National Retail Federation (NRF) said a sudden rise with less than a week’s notice would severely disrupt US businesses, especially small firms with limited resources. The American Apparel & Footwear Association (AAFA) also strongly condemned it.
“Tariffs are taxes paid by American businesses and consumers, not by China. If the administration follows through on this threat, American consumers will face higher prices and US jobs will be lost,” NRF senior vice president for government relations David French said in a statement.
“We want to see meaningful changes in China’s trade practices, but it makes no sense to punish Americans as a negotiating tactic. If the administration wants to put more pressure on China, it should form a multinational coalition with our allies who share our concerns. We urge the administration to reconsider this tax hike on Americans and stay at the bargaining table until a deal is reached,” French added.
“The tariffs described by the President—both those that would be increased to 25 per cent on Friday, and those that would be added to consumer goods like clothing and shoes that are not currently being charged with punitive tariffs—will only hurt US families, US workers, US companies, and the US economy. We urge the President to refrain from imposing these additional tariffs and instead focus on negotiating and concluding the trade deal with China,” said AAFA president and CEO Rick Helfenbein.
President Trump had recently tweeted that tariffs of 10 per cent on certain goods would rise to 25 per cent on Friday, and $325 billion of untaxed goods could face 25 per cent duties ‘shortly’. "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" he tweeted. (DS)
“Tariffs are taxes paid by American businesses and consumers, not by China. If the administration follows through on this threat, American consumers will face higher prices and US jobs will be lost,” NRF senior vice president for government relations David French said in a statement.
“We want to see meaningful changes in China’s trade practices, but it makes no sense to punish Americans as a negotiating tactic. If the administration wants to put more pressure on China, it should form a multinational coalition with our allies who share our concerns. We urge the administration to reconsider this tax hike on Americans and stay at the bargaining table until a deal is reached,” French added.
“The tariffs described by the President—both those that would be increased to 25 per cent on Friday, and those that would be added to consumer goods like clothing and shoes that are not currently being charged with punitive tariffs—will only hurt US families, US workers, US companies, and the US economy. We urge the President to refrain from imposing these additional tariffs and instead focus on negotiating and concluding the trade deal with China,” said AAFA president and CEO Rick Helfenbein.
President Trump had recently tweeted that tariffs of 10 per cent on certain goods would rise to 25 per cent on Friday, and $325 billion of untaxed goods could face 25 per cent duties ‘shortly’. "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" he tweeted. (DS)
Fibre2Fashion News Desk – India
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