Retailers say latest tariffs throw away benefits of tax reform

"This is just another step toward throwing away the benefits of tax reform."

WASHINGTON – The National Retail Federation issued the following statement from President and CEO Matthew Shay after the Office of the U.S. Trade Representative today released a final list of $16 billion worth of goods from China that will be subject to a 25 percent tariff effective August 23:

“This is just another step toward throwing away the benefits of tax reform that have given our nation’s economy a badly needed boost. These tariffs might be part of an effort to bring about fair trade with China, but as we’ve said before all we have seen so far is a huge risk for American consumers and workers with no endgame in sight. It’s time to stop digging a deeper hole while we can still climb out.”

About NRF
The National Retail Federation is the world’s largest retail trade association. Based in Washington, D.C., NRF represents discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.