;
Home / Knowledge / News / Apparel/Garments / NRF upset as US plans to apply tariffs on Chinese imports
NRF upset as US plans to apply tariffs on Chinese imports
05
Jun '18
The National Retail Federation (NRF) has expressed disappointment over US plans to move ahead with tariffs on $50 billion worth Chinese imports that will lead to higher costs for US consumers, fewer jobs and retaliation. Job-killing tariffs aren’t the answer to China’s worrisome trade practices, NRF president and CEO Matthew Shay said in a statement.

“As the US and China prepare for another round of negotiations, we hope the administration has clearly defined objectives and concrete solutions to resolve this trade dispute without tariffs. The lack of clarity surrounding the administration’s plans is creating significant uncertainty for American businesses, disrupting supply chains and threatening to undermine the economic gains we’ve seen over the past year,” said Shay.

On March 22, US President Donald Trump signed a memorandum announcing that the United States would take multiple steps to protect domestic technology and intellectual property from certain discriminatory and burdensome trade practices by China.

These actions were announced following a report of the Office of the US Trade Representative (USTR) regarding China’s practices with respect to technology transfer, intellectual property, and innovation.

A recent study by NRF and the Consumer Technology Association found tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce US gross domestic product (GDP) by nearly $3 billion and destroy 134,000 American jobs.

The study cautioned that imposing tariffs on an additional $100 billion of Chinese imports would come at a significant cost to the US economy, destroying 455,000 jobs each year and reducing GDP by $49 billion. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

British PM's Brexit divorce deal defeated in parliament

Textiles | On 16th Jan 2019

British PM's Brexit divorce deal defeated in parliament

British Prime Minister Theresa May's Brexit divorce deal was defeated ...

Garment industry in Laos continues to face challenges

Apparel/Garments | On 16th Jan 2019

Garment industry in Laos continues to face challenges

Apparel firms in Laos are facing several problems ranging from...

Courtesy: Indochino

Apparel/Garments | On 16th Jan 2019

Indochino to open 20 new showrooms in North America

Indochino, a leader in custom and made to measure apparel...

Interviews View All

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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


January 2019

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

news category


Related Categories:

Advanced Search