U.S. Retailers Get Some Good News on Easing China Trade Tensions

As the Retail Industry Leaders Association (RILA) convenes this week for its annual Retail Supply Chain Conference, shippers expressed relief that President Trump has called for a delay for increasing tariffs on Chinese Goods. Had the President made good on his threat, as much as $200 billion in Chinese imports would have gone into effect on March 1st.

“We commend the President’s decision to delay the tariff increase on thousands of everyday products that millions of American families want and need. These ongoing negotiations have been hanging over America’s retailers causing uncertainty throughout our supply chain,” says Hun Quach, vice president of international trade for RILA. “We look forward to continuing our work with Congress and the Administration to quickly find a path forward that removes all tariffs on everyday consumer products.

That sentiment was also expressed by the National Retail Federation's President and CEO Matthew Shay this week.

“We welcome the progress made between the U.S. and China and commend the administration for its efforts to address unfair trading practices,” he says “The decision to avoid a tariff hike is a positive development, and we encourage the administration to build on this momentum and reach a resolution that will eliminate uncertainty for American businesses and consumers. We look forward to continued progress and an agreement that will end tariffs and achieve a more fair and balanced trading relationship.”

According to data released by Tariffs Hurt the Heartland – a campaign backed by NRF – recent tariffs imposed by the administration cost U.S. businesses $2.7 billion in November 2018 alone. Tariffs Hurt the Heartland also released a report prepared by Trade Partnership that found American workers would lose nearly one million U.S. jobs if tariffs on $200 billion of Chinese imports increased from 10 to 25 percent.

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