;
Home / Knowledge / News / Apparel/Garments / NRF urges US Congress to step in, stop trade war
NRF urges US Congress to step in, stop trade war
21
Jun '18
NRF urges US Congress to step in, stop trade war
The National Retail Federation (NRF) recently urged the US Congress to step in to stop the ‘reckless escalation’ in US-China trade war. After President Donald Trump said he is considering tariffs on an additional $200 billion of Chinese goods, NRF president and CEO Matthew Shay said in a statement that the Congress must “exert its authority on trade policy”.

“This is just what we predicted – a tit-for-tat trade war has erupted and American families are caught in the middle. Higher prices for everyday essentials and lost jobs threaten to sap the energy out of the strong U.S. economy just as most Americans are starting to enjoy the benefits of historic tax reform,” Shay said.

A study conducted earlier this year for NRF and the Consumer Technology Association found that tariffs on $50 billion of Chinese imports, as announced last week, would reduce US gross domestic product by nearly $3 billion and lead to the loss of 134,000 American jobs, with four jobs lost for every job gained.

Imposing tariffs on an additional $100 billion of Chinese imports would bring the total impact to a $49 billion reduction in GDP and the loss of 455,000 jobs, an NRF press release said.. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Anthesis Group takes over key assets of Made-By

Apparel/Garments | On 20th Jan 2019

Anthesis Group takes over key assets of Made-By

Anthesis Group, the global sustainability and solutions provider, has ...

ZDHC signatory brands share tools on screened chemistry

Apparel/Garments | On 20th Jan 2019

ZDHC signatory brands share tools on screened chemistry

ZDHC signatory brands - Levi Strauss & Co, Nike, H&M and C&A – are...

Courtesy: Global fashion agenda

Apparel/Garments | On 20th Jan 2019

ASOS, PVH become partners to Global Fashion Agenda

ASOS and PVH Corp are becoming part of the Global Fashion Agenda’s...

Interviews View All

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

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

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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