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tariffs

NRF: Tariff hike could cost consumers $31 billion

NRF: Tariff hike could cost consumers $31 billion

WASHINGTON – American consumers could lose $31 billion in spending power if U.S. tariffs are raised on common household products like microwaves and T-shirts imported from China, according to a new report released Thursday by the National Retail Federation. The study, “Estimated Impacts of Changes to China’s Tariff Status,” examines how ending the country’s permanent

Retailers urge tariff cuts to fight inflation

Retailers urge tariff cuts to fight inflation

WASHINGTON – The National Retail Federation urging the Biden administration to repeal tariffs on goods from China as a way to fight inflation, the trade group said Wednesday. To get that message out, the NRF said it is launching the second phase of a seven-figure advocacy campaign with broadcast, digital and out-of-home advertising, including a

Retail sales growth strong in July

Retail sales growth strong in July

WASHINGTON — Retail sales were up 0.9% in July seasonally adjusted from June and up 5.6% unadjusted year-over-year, the National Retail Federation said Thursday. The numbers exclude sales by automobile dealers, gasoline stations and restaurants. “July’s strong results are consistent with a confident consumer,” NRF chief economist Jack Kleinhenz said in a statement on Thursday.

NRF calls latest tariffs a big gamble

NRF calls latest tariffs a big gamble

WASHINGTON – The National Retail Federation has warned that the Trump administration’s imposition of additional tariffs on Chinese goods puts the U.S. economy and American jobs at risk. “We support the administration’s efforts to deliver a meaningful trade agreement that levels the playing field for American businesses and workers,” NRF president and CEO Matthew Shay.