Washington – The National Retail Federation (NRF) has released a statement following the Trump Administration’s recent reciprocal tariffs announcement.
“More tariffs equal more anxiety and uncertainty for American businesses and consumers,” said David French, NRF executive vice president of government relations. “While leaders in Washington may not care about higher prices, hardworking American families do.
“Eighty-eight percent of voters say that small businesses play an important role in their local economy, according to an NRF poll conducted by Morning Consult. These tariffs will have a disproportionate impact on local communities and will be particularly harmful to small retailers.”
In his statement, French outlined concerns from and for both consumers and business owners.
“Voters do not see tariffs as helping vulnerable communities including blue collar workers, rural communities, families with young children, low-income households, the elderly and farmers,” continued French. “Tariffs are a tax paid by the U.S. importer that will be passed along to the end consumer. Tariffs will not be paid by foreign countries or suppliers.
“Even more so, the immediate implementation of these tariffs is a massive undertaking and requires both advance notice and substantial preparation by the millions of U.S. businesses that will be directly impacted.”
At the end of his statement, French called on President Trump to pursue other measures.
“We encourage President Trump to hold trading partners accountable and restore fairness for American businesses without creating economic uncertainty and higher prices for American families.”
See also:
Credit: homeaccentstoday.com
