National Retail Federation Issues “Cautious” Praise for Tentative U.S.-China Trade Deal

When the Trump administration announced last Friday that it has secured a partial deal with Chinese negotiators to put a “pause” on the escalating Pacific Rim trade war, our nation's leading retailers were among the first to issue measured praise for the move.

“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,” said David French, Senior Vice President for Government Relations of The National Retail Federation.

French added that the decision to delay planned tariff hikes is welcome news for shippers heading into the busy holiday shopping season.

“Although this is a step in the right direction, the uncertainty continues,” he allowed. “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.”

Pacific Rim ports of Los Angeles, Long Beach and Oakland are also likely to express relief, as they are leading ocean cargo gateways for agricultural exports.

Indeed, the deal on agricultural commodities could have a significant impact for farm interests. China in particular, is a crucial market for U.S. soy farmers.

Our nation's supply chain managers will be watching closely as both sides meet to finalize a tentative trade deal. Meanwhile, the precise language of “phase one” could take four to five weeks to complete.

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