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WASHINGTON—The National Retail Federation has released a statement from David French, Executive Vice President of Government Relations, regarding the Trump administration’s plan to impose reciprocal tariffs on all trading partners.
“While we support the president’s efforts to reduce trade barriers and imbalances, this scale of undertaking is massive and will be extremely disruptive to our supply chains. It will likely result in higher prices for hardworking American families and will erode household spending power. We encourage the president to seek coordination and collaboration with our trading partners and bring stability to our supply chains and family budgets.
“The University of Michigan monthly consumer sentiment index continues to decline, suggesting consumers are alarmed about trade war uncertainty.”
