WASHINGTON, May 14, 2024 – The National Retail Federation today issued the following statement from Executive Vice President of Government Relations David French after the U.S. Trade Representative and the White House released the statutory four-year review of the Section 301 China tariffs.
“We are extremely disappointed that the United States Trade Representative and the Biden administration have chosen to double down on a failed and inflationary strategy by sustaining and expanding the Section 301 China tariffs. Maintaining these tariffs on consumer goods will increase costs that consumers pay on everyday products imported from China.
“As consumers continue to battle inflation, the last thing the administration should be doing is placing additional taxes on imported products that will be paid by U.S. importers and eventually U.S. consumers. The ongoing Section 301 China tariffs have not worked to force China to change its trade practices. We need a new strategy that will address the core issues and provide actual incentives for U.S. companies to shift their supply chains from China.
“We need new free trade agreements that focus on both market access and tariff reductions, and we need Congress to pass long-standing trade preference programs which remain expired. The U.S. economy needs real incentives — unlike those in the form of penal tariffs — to shift supply chains away from China. USTR must immediately renew the exclusions that are set to expire at the end of the month and open a fair and transparent exclusions process for all products covered by the tariffs.”
As the leading authority and voice for retail, NRF will continue to advocate for trade policies that promote economic growth.
About NRF
The National Retail Federation passionately advocates for the people, brands, policies and ideas that help retail succeed. 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 $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs — 55 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