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.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2022
    • Upload Your Video
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
Regulation/Government Supply Chain Strategy Global Logistics
KEYWORDS Industrial Truck Association NRF - National Retail Federation
  • Related Articles

    White House may rescind energy sector tax breaks to pay for infrastructure

    Retailers turn to trade advisors to navigate impact of China tariffs

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

Benames
Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide "Hiking Massachusetts" and is a graduate of the Columbia School of Journalism.

Recent Articles by Ben Ames

Data exchange at ports could cut emissions and costs, model shows

Burris Logistics gains California foothold with latest acquisition

Private equity firm acquires packaging provider Coregistics in e-commerce bet

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

Report Abusive Comment

Most Popular Articles

  • Private equity firm acquires packaging provider Coregistics in e-commerce bet

  • Wholesaler opens doors to faster fulfillment with AMRs

  • Packaging industry reprioritizes amid inflation, supply chain disruption

  • Cisco tops Gartner supply chain ranking for third straight year

  • Robot orders surge again in Q1 as tech grows more affordable, usable

Now Playing on DCV-TV

20220623cornerstone vs

Why Locus Robotics chooses Cornerstone's ResinDek flooring

DCV-TV 4: Viewer Contributed
Locus Robotics recommends ResinDek flooring from Cornerstone as the best solution for customers. Why? "We know that when we do a project with Cornerstone, our bots perform and deliver results optimally," says Steve Simmerman, Locus' head of global alliances. The flooring’s even, consistent surface provides reliable...

FEATURED WHITE PAPERS

  • Breaking Bad: Conducting Full Truckload RFPs in the Age of Digital Freight Procurement

  • Fueling Sustainability for Manufacturers: Strategies to Increase Fuel Efficiency and Reduce Your Carbon Footprint

  • Guide to Proven Warehouse Solutions

  • Five common misconceptions about running a private fleet

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2022. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing