The National Retail Federation (NRF) has cautioned against the Trump administration’s decision to impose 25 per cent tariffs on imports from Canada and Mexico, warning that the move will harm American consumers and businesses.
In a statement released following the announcement, NRF executive vice president of Government Relations David French expressed concern over the economic repercussions of the tariffs.
“The decision to impose tariffs on our North American neighbours and two of our largest trading partners is a significant measure. Unfortunately, it is one that will only hurt hardworking Americans and the businesses that strive to provide customers with the products they want and need on a daily basis.”
“Tariffs are just one tool at the administration’s disposal to achieve a secure border, and we urge it to explore other options to accomplish the same goals. As long as these tariffs are in place, Americans will be forced to pay higher prices on household goods,” French said in a release.
With Canada and Mexico being two of the United States’ largest trading partners, the tariffs are expected to impact a wide range of industries, potentially leading to price hikes on consumer goods and disruptions in supply chains.
Industry leaders and trade advocates are now pressing for diplomatic solutions to prevent further strain on North American trade relations.
“We urge the Trump administration and our Canadian and Mexican counterparts to work together to quickly resolve our outstanding border security issues,” French concluded.
Fibre2Fashion News Desk (HU)
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