NRF hopes trade war would end after Trump-Xi G-20 meeting

03 Jul '19

1 min read

Pic: NRF

The US National Retail Federation recently expressed hope that the talks between Presidents Donald Trump and Xi Jinping at the G-20 summit will lead to the end of the US-China trade war. NRF looks forward to continued progress in the talks with China and hopes that existing tariffs are lifted, said senior vice president for government relations David French.

Tariffs of 25 per cent have already been imposed on $250 billion in goods from China, and the Trump administration has been considering expanding the tariffs to virtually all Chinese imports by imposing the same levy on another $300 billion worth Chinese imports.

NRF testified at a hearing held last week by the Office of the U.S. Trade Representative, asking the administration to re-evaluate its strategy for dealing with China.

NRF has been a leading opponent of tariffs, saying they are a tax on imports that drive up prices of consumer merchandise purchased by American families while increasing the cost of parts and materials used by US companies to manufacture domestic products, ultimately costing many US workers their jobs. (DS)

Fibre2Fashion News Desk – India

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