Market Overview

Retailers Say Latest Tariffs Throw Away Benefits of Tax Reform

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The National Retail Federation issued the following statement from
President and CEO Matthew Shay after the Office of the U.S. Trade
Representative today released a final
list of $16 billion worth of goods from China
that will be subject
to a 25 percent tariff effective August 23:

"This is just another step toward throwing away the benefits of tax
reform that have given our nation's economy a badly needed boost. These
tariffs might be part of an effort to bring about fair trade with China,
but as we've said before all we have seen so far is a huge risk for
American consumers and workers with no endgame in sight. It's time to
stop digging a deeper hole while we can still climb out."

About NRF

The National Retail Federation is the world's largest retail trade
association. Based in Washington, D.C., NRF represents discount and
department stores, home goods and specialty stores, Main Street
merchants, grocers, wholesalers, chain restaurants and internet
retailers from the United States and more than 45 countries. Retail is
the nation's largest private-sector employer, supporting one in four
U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to
annual GDP, retail is a daily barometer for the nation's economy. NRF.com

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