"Retailers are doing everything they can to keep prices down despite the economic pressures of high inflation."
WASHINGTON – The National Retail Federation today announced it is launching the second phase of a seven-figure advocacy campaign with broadcast, digital and out-of-home advertising, urging the Biden administration to repeal tariffs on goods from China to lower costs for businesses and consumers who are being severely impacted by inflation. The ad campaign includes a 30-second television spot called “Lower Inflation Now by Repealing Tariffs.”
“No one is closer to the consumer than the retail industry, and retailers are doing everything they can to keep prices down despite the economic pressures of high inflation,” NRF President and CEO Matthew Shay said. “We began a grassroots effort months ago and are now expanding our efforts with an ad campaign because the urgency for action grows each day.”
“We encourage the administration to work with our trading partners, particularly China, to roll back tariffs that contribute to the high cost of goods and services and provide much-needed relief for American consumers,” Shay said. “Tariffs are among the many costs out of retailers’ control that drive up prices paid by consumers. But unlike other costs, the administration can eliminate tariffs with the stroke of a pen.”
NRF’s new ad campaign builds on the organization’s advocacy efforts encouraging the administration to lower or eliminate tariffs that have cost U.S. importers $136.5 billion since 2018 and cost the average American household more than $1,200 a year.
NRF is also urging Congress to address the nation’s labor shortage and supply chain crisis as additional concrete solutions to lower inflation.
“While change takes time, repealing and lowering tariffs will help relieve pressure on American consumers,” Shay said. “We know this is only one of the solutions under consideration to rein in skyrocketing prices but we urge the administration to prioritize the repeal of tariffs.”
NRF’s Lower Inflation Now grassroots campaign began in April and has called on President Biden and Congress to make everyday necessities more affordable by repealing the China tariffs, easing the supply chain crisis by passing the Ocean Shipping Reform Act, addressing the labor shortage by enacting immigration reform and lowering the cost to process transactions by increasing competition in the payments system.
For more information visit nrf.com/inflation.
About NRF
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs – 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. NRF.com
