‘Stop Playing Chicken With US Economy’, Retailers Warn Trump
The message from US retailers to President Donald Trump is clear: stop playing ‘chicken’ with the US economy.
The National Retail Federation issued the statement on the back of yesterday’s announcement that the White House is considering an additional $100 billion worth of tariffs against China.
“This is what a trade war looks like, and what we have warned against from the start,” said NRF President Matthew Shay.
“We are on a dangerous downward spiral and American families will be on the losing end. To be clear, we agree it’s time to address China’s unfair trade practices, but an additional $100 billion in tariffs amount to $100 billion in taxes on the American people. Tax reform delivered a real benefit to working families, and tariffs take them away.”
Shay warned that these “tit-for-tat trade actions” could spell “disaster” for the US economy, and make it more difficult for everyday Americans to afford basic necessities.
“It is inevitable that China will respond with more retaliatory actions that cause even further harm to American farmers, businesses and consumers. We urge the administration to change course and stop playing a game of chicken with the nation’s economy,” he said.
The National Retail Federation represents discount and department stores, home goods and specialty stores, grocers, wholesalers, chain restaurants and Internet retailers in the US.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.