U.S. Retailers Blast New China Tariffs, See Boost In Consumer Prices

www.oann.com | 11/29/2013 | Staff
Les7799 (Posted by) Level 3
WASHINGTON (Reuters) – President Donald Trump’s threat to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1 will hit consumers at the start of the important back-to-school buying season, four large retail trade associations warned on Thursday.

The Footwear Distributors and Retailers of America said the tariffs would jack up prices for consumers and could have a chilling effect on hiring.

President - Trump - Effect - Families - Hostage

“President Trump is, in effect, using American families as a hostage in his trade war negotiations,” the group’s president, Matt Priest, said in a statement.

Stephen Lamar, executive vice president of the American Apparel & Footwear Association, told Reuters the tariffs would be “hugely disruptive,” and would drive prices for consumers higher since they cannot easily be absorbed in the supply chain.


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