We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Retailers press White House to rescind China tariffs

Retailers press White House to rescind China tariffs

Move would help cool off inflation, NRF argues.

NRF shutterstock_2023622432.jpeg
June 10, 2022
Ben Ames
No Comments

The nation’s largest retailer trade group is continuing to press the Biden Administration to repeal tariffs on Chinese goods that remain on the books after first being levied by former president Trump in an effort to stem “unfair” trade practices.

Citing rising inflation as measured by Consumer Price Index (CPI) numbers released this morning by the Bureau of Labor Statistics, the National Retail Federation (NRF) said that repealing tariffs is one of the most effective economic tools to reduce inflation and shrink prices.

“This report showing that rampant inflation continues is one more reason for the administration to move quickly to repeal tariffs,” NRF President and CEO Matthew Shay said in a release. “Independent researchers and government agencies agree that ending tariffs is the fastest way to relieve the pressure of higher prices that American businesses, workers, and consumers are facing every day. While the Federal Reserve continues with its long-term strategy to stem inflation, we need the administration and Congress to move forward on steps to lower prices that can be taken immediately.”

Business groups such as the NRF have consistently opposed trade wars, saying that when retailers are forced to pay import tariffs, they typically pass most of that added cost on to consumers, leading to higher store prices and potential inflation.

American manufacturers such as the Industrial Truck Association have posted similar complaints, saying that when they pay higher prices for raw materials such as imported steel, they can absorb only so much of that impact through smaller profit margins. The rest gets added to the cost of goods, including material handling equipment ranging from basic racks and shelving to intermodal boxes, shipping containers, conveyors, and lift trucks.

According to an NRF ad campaign, tariffs on goods from China have cost U.S. importers $136.5 billion since 2018 and have driven up prices for American consumers, costing the average family more than $1,200 a year.

NRF responds to rising CPI by urging administration to repeal China #tariffs. https://t.co/laBbSVrvBM #LowerInflationNow pic.twitter.com/vzZAO0fZfB

— National Retail Federation (@NRFnews) June 10, 2022
Finance Global Strategy
KEYWORDS Industrial Truck Association NRF - National Retail Federation
  • Related Articles

    Retailers throttle back imports after rush to beat China tariffs, holiday peak

    Retail trade groups urge White House to guide west coast port contract negotiation

    White House report lists steps to strengthen critical supply chains

Ben Ames is Editor at Large and a Senior Editor at Supply Chain Quarterly?s sister publication, DC Velocity.

Recent Articles by Ben Ames

Kuehne+Nagel will operate final 747 jet to be built

Maersk deploys indoor drones for warehouse inventory counts

Jungheinrich buys Indiana warehouse automation vendor for $375 million

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Forecasts call for freight rate slumps in 2023

  • Projected U.S. recession in early 2023 will soften freight market

  • Inflation drops again as interest rate hikes hit home, NRF says

  • How to avoid the next crisis: A new approach to supply chain agility

  • Five levers to build a resilient supply chain

Featured Video

20221107korber large vs

Enhancing Customer Experience with Your Supply Chain Strategy

Viewer Contributed
With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

FEATURED WHITE PAPERS

  • Guide to Pallet Rack Safety

  • 3PLs: Complete Orders Faster with Flexible Automation

  • A shipper's guide to navigating post-pandemic holiday freight

  • THE NEW WAY TO WAREHOUSE: 4 Innovations in Automation & Robotics to Boost Warehouse Productivity

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing