Retailers respond to tariff escalation
< 1 minute read
The National Retail Federation (NRF) responded after the Trump administration announced that current tariffs on $250 billion in Chinese goods will rise from 25 to 30 percent on October 1. New tariffs set to take effect September 1 and December 15 on $300 billion in Chinese goods will rise from 10 to 15 percent.
“It’s impossible for businesses to plan for the future in this type of environment. The administration’s approach clearly isn’t working, and the answer isn’t more taxes on American businesses and consumers,” stated David French, senior vice president for government relations for NRF. “Where does this end?”