NRF decries US Govt plans for 25% tariffs on Chinese goods

04 Aug '18
1 min read

After reports that the US Government will propose tariffs of 25 per cent instead of 10 per cent on $200 billion in goods from China, the National Retail Federation (NRF) said raising tariffs will increase the harm. “There has been no better example of cutting off one’s nose in order to spite the face,” NRF president and CEO Matthew Shay said in a statement.

The step “will hurt US families and workers more than they will hurt China....Tariffs are an unacceptable gamble with the U.S. economy and the stakes continue to rise with no end in sight,” Shay said in a statement.

“A broader, long-term strategy is needed that will bring about fair trade without punishing the wrong people,” he added. (DS)

Fibre2Fashion News Desk – India

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