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            october 20, 2019

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US retail federation slams new US tariffs against China


The US National Retail Federation (NRF) has slammed the Trump administration's move to impose a 10 per cent tariff on US$200 billion worth of Chinese goods from September 24, saying that it is likely to have a greater impact on air freight than the two earlier tariff hikes since the duties will apply to products including handbags, luggage, electronics, foods, rice and textiles, according to Shipping Gazette.
NRF president Matthew Shay was quoted as saying in a report by London's Air Cargo News: "Every time this trade war escalates, the risk to US consumers grows. With these latest tariffs, many hardworking Americans will soon wonder why their shopping bills are higher and their budgets feel stretched.
"We cannot afford further escalation, especially with the holiday shopping season right around the corner. The mere talk of tariffs on all remaining Chinese imports is of serious concern to retailers since tariffs of that magnitude would touch every aspect of American life.
"Achieving better trade deals is an important priority but there is nothing better about it when American families are forced to pay higher prices for everyday purchases."
According to FedEx, the tariffs would not have too great an impact on its business since the China-US trade lane represents just two per cent of its total revenues.
"However," FedEX executive vice president Raj Subramaniam said, "the uncertainty surrounding the issue is not helping and thus has a broader impact on the market".

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