Trump's new tariffs will raise prices for US consumers, warns NRF

In an official statement, David French, NRF executive vice president of government relations, urged the administration to prioritise trade agreements that reduce—not raise—tariffs. “Tariffs are taxes paid by US importers and are eventually passed along to US consumers,” he said, cautioning that the result would be “higher prices, decreased hiring, fewer capital expenditures and slower innovation”.

French noted that while retailers have so far managed to keep prices stable, the newly announced tariffs will begin to affect merchandise costs in the coming weeks. “We have heard directly from small retailers who are concerned about their ability to stay in business in the face of these unsustainable tariff rates,” he added.

The NRF called on the administration to pursue binding trade agreements that genuinely open markets, warning that further tariff escalation could severely disrupt the retail ecosystem and consumer affordability.

Fibre2Fashion News Desk (KD)