Letter to Lutnick and Bessent: Prioritize American issues
Growing the economy & lowering inflation must be priorities
- By [ Michael Hanson ]
- Washington, DC
- 02/28/2025
“The American people are eager to see the Trump administration’s economic team is getting to work. The nation’s leading retailers are optimistic about how the administration will tackle the myriad tasks before you, principally growing the U.S. economy and lowering inflation,” wrote Michael Hanson, RILA’s senior executive vice president, public affairs.
Read the letter:
Dear Secretary Bessent and Secretary Lutnick:
The American people are eager to see the Trump administration’s economic team is getting to work. The nation’s leading retailers are optimistic about how the administration will tackle the myriad tasks before you, principally growing the U.S. economy and lowering inflation.
There is a roadmap for how to grow our economy: The Tax Cut and Jobs Act that passed under the first Trump administration made the U.S. economy the envy for the world. Lowering the corporate tax rate to 21% made America competitive internationally after decades of falling behind. This competitive rate unleashed domestic investment in rural towns, urban centers and communities throughout America. The result was an innovation and jobs boom that is the backbone of our current economic strength.
In retail specifically, a lower rate led to a surge in investment in new stores, distribution centers, technology and increased benefits and wages. Retailers are urging the administration to stick with this playbook, which will continue to make America the best place to invest and innovate. We are eager to work with you on this critical assignment of renewing the President’s signature initiative, preserving existing tax law to give businesses the certainty they need to hire and invest.
The retail industry recognizes the administration views national security and protecting American innovation as a top priority. Toward this end, President Trump’s first term also offered a blueprint for success: the USMCA trade agreement. Leading retailers urge the President to seek trade agreements that set clear rules of the road and protect American workers and ingenuity. We strongly believe the President and his team can accomplish those goals and minimize disruption to the U.S. economy while protecting household goods by utilizing smart and targeted tariffs – accomplishing the President’s goal of bringing down prices for American families.
American retailers are encouraged by the new Administration’s recognition that the de minimis provision is an issue that must be addressed. The explosion of de minimis shipments into the United States has created an unlevel playing field for U.S. businesses and threatens American consumers with illegal, counterfeit and sometimes dangerous products that can evade CBP scrutiny. Leading retailers are ready to work with the Administration on a lasting solution that protects consumers and American brands and ensures that all importers play by the same set of rules.
Looking forward, the retail industry stands ready to work together with the Trump administration to advance economic policies that promote growth, protect consumers and make life more affordable for American families.
Sincerely,
Michael Hanson
Senior Executive Vice President, Public Affairs
Retail Industry Leaders Association (RILA)
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RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $2.7 trillion in annual sales, millions of American jobs, and hundreds of thousands of stores, manufacturing facilities, and distribution centers domestically and abroad.
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Public Policy
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Finance
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Supporting Free Markets and Fostering Innovation