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

Pic: PR Newswire/Hoang Trieu

Apparel/Garments | On 14th Jul 2020

Dony Garment makes protective gear main production line

Dony Garment, a Vietnamese garment production company, has made...

Pic: Bodygram

Retail | On 14th Jul 2020

Transcosmos signs agreement with Bodygram, Japan

Transcosmos, headquartered in Japan, has signed a partnership...

Pic: IWTO

Textiles | On 14th Jul 2020

How clothes are used determines sustainability: AWI

Sustainability of clothing greatly depends on the number of times it...

Interviews View All

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Spokesperson, Hugo Boss

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Valter De Carli,

Valter De Carli

Savio Macchine Tessili is at the head of a group that holds a know-how of...

Verena Ruckh,

Verena Ruckh

Brückner Trockentechnik develops, manufactures and supplies textile...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

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

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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


July 2020

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


Advanced Search