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NRF urges US Govt to end trade war with China

08
Feb '19
NRF urges US Govt to end trade war with China
Praising President Donald Trump’s State of the Union address, the US National Retail Federation has (NRF) urged for structural reforms and an end to the trade war with China by doing away with tariffs so that US businesses and families get certainty and relief. The Congress should focus on areas of common ground to keep the economy moving forward, NRF said.

"We are now making it clear to China that after years of targeting our industries and stealing our intellectual property, the theft of American jobs and wealth has come to end," President Trump had said in his address, referring to tariffs his administration posed last year on $250 billion worth Chinese imports in response to alleged unfair trade practices.

“Rebuilding the nation’s crumbling infrastructure, modernizing North American trade, advancing commonsense immigration reform, protecting consumer privacy, fostering innovation and promoting workforce development are all areas where Republicans and Democrats can reach across the aisle and get things done — while keeping the government’s lights on,” NRF president and chief executive officer Matthew Shay said in a statement.

“We encourage the administration to continue to focus on the end goal, and for Congress to restore rather than further neglect its role in trade policy,” he added.

NRF has also released its annual economic forecast, projecting that retail sales during 2019 will rise between 3.8 per cent and 4.4 per cent to more than $3.8 trillion. (DS)

Fibre2Fashion News Desk – India


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