Two major retail associations have voiced their concerns over President Trump’s plan to impose tariffs on imports from Canada, Mexico and China. (As of this posting, various news agencies were reporting that Trump had gained some concessions and postponed any Mexican or Canadian tariffs for at least a month, while plans to impose the levies on China on Feb. 4 remained unchanged.)
Here’s what National Retail Federation EVP of Government Relations David French had to say in a news release about the tariffs:
“We support the Trump administration’s goal of strengthening trade relationships and creating fair and favorable terms for America.
“But imposing steep tariffs on three of our closest trading partners is a serious step. We strongly encourage all parties to continue negotiating to find solutions that will strengthen trade relationships and avoid shifting the costs of shared policy failures onto the backs of American families, workers and small businesses.
“The retail industry is committed to working with President Trump and his administration to achieve his campaign promises, including strengthening the U.S. economy, extending his successful Tax Cuts and Jobs Act, and ensuring that American families are protected from higher costs.”
In a similar vein, Michael Hanson, the Retail Industry Leaders Association’s Senior EVP of Public Affairs told CNBC:
“We understand the president is working toward an agreement. The leaders of all four nations should come together and work to reach a deal before Feb. 4 because enacting broad-based tariffs will be disruptive to the U.S. economy. The American people are counting on President Trump to grow the U.S. economy and lower inflation, and broad-based tariffs will put that at risk.”
Editor’s note: this item has been updated with the news that the Canadian tariffs are also on temporary hold.
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