Retailers welcome progress on trade concerns
The National Retail Federation today issued the following statement from Senior Vice President for Government Relations David French after the Trump administration announced that a scheduled tariff hike from 25 percent to 30 percent on $250 billion worth of goods from China will not take place next week as negotiators finalize a tentative trade deal.
“Retailers are encouraged by the progress made between the United States and China and are pleased that the administration has listened to the concerns of the business community as the trade war takes an increasing toll on the American economy. The decision to delay planned tariff hikes is welcome news to U.S. retailers and consumers heading into the busy holiday shopping season. Although this is a step in the right direction, the uncertainty continues. We urge both sides to stay at the negotiating table with the goal of lifting all tariffs and fundamentally resetting U.S.-China trade relations.”