During a hearing with the Office of the U.S. Trade Representative, the National Retail Federation warned that proposed tariffs of goods imported from China would “destroy U.S. jobs, disrupt supply chains, and increase prices for U.S. consumers.” The comments were made by NRF Senior Vice Preside for Government Relations David French and represent a continued strong effort by the association to urge the USTR and current administration to ease its stance in the continued trade war with China.
“Prices will rise, and the economy will suffer,” French said in his testimony. “Retailers cannot quickly change suppliers to find alternate sources for goods impacted by the proposed tariffs. It can take years to develop new supply chains that satisfy retailer requirements for volume, reliability, regulatory compliance and vendor codes of conduct.”
In particular, French pointed to the back-to-school season, which (crazy enough) will begin in the next several weeks as retailers start pushing that merchandise to their sales floors.