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Prez Trump to review US trade policies, NRF welcomes decision

22 Jan '25
2 min read
Prez Trump to review US trade policies, NRF welcomes decision
Pic: X/WhiteHouse

Insights

  • President Trump has directed the Commerce and Treasury Departments to examine the causes and security implications of the US trade deficit.
  • The NRF welcomed his decision to review trade policies before imposing new tariffs.
  • David French stressed the need for fair and balanced trade, cautioning against broad tariffs.
  • NRF pledged to work with the administration to boost investment and create jobs.
US President Donald Trump earlier this week has directed the commerce and treasury departments to examine the factors behind America’s persistent annual trade deficits in goods and assess their economic and national security implications, as outlined in the official ‘America First Trade Policy’ document released by the White House. Trump's decision to initiate a review of current trade policies before imposing significant new tariffs on key trading partners has been welcomed by the National Retail Federation (NRF).

Welcoming the decision, David French, executive vice-president of government relations at the NRF, said that a thorough assessment of the United States' trade relationships is deemed necessary to ensure they are structured to achieve fair, balanced, and effective outcomes for American workers and businesses. A comprehensive review of US trade relationships is essential to ensure they are designed to deliver fair, balanced, and effective outcomes for American workers and businesses.

“Tariffs are taxes paid by Americans, and any new tariff tax increases should be methodically and effectively deployed toward only the most strategic goods. Retailers are committed to working with President Trump and his administration to achieve his campaign promises, including strengthening the US economy, extending his successful tax cuts and jobs act, and ensuring that American families are protected from high inflation,” said French.

“Undertaking a strategic assessment of trade priorities is an important first step, and we look forward to working with the president to see that the resulting policy changes are carefully targeted and create an environment that attracts investment and protects critical industries.

“As the leading authority and voice for retail, NRF will continue to advocate for policies and solutions that will enhance America’s competitiveness, boost domestic investment and create jobs,” added French.

Fibre2Fashion News Desk (SG)

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