Continuation of 301 Tariffs Harms U.S. Businesses, Consumers
Retailers deeply disappointed by Administration decision
- By [ Blake Harden ]
- Washington, DC
- 05/14/2024
“We are deeply disappointed by the Biden Administration’s decision to double down on the use of harmful, broad-based tariffs – which is an affront to American businesses and consumers. Over the last five years, U.S. businesses and consumers have paid more than $215 billion in higher tariffs for a failed experiment in trade policy. Section 301 tariffs have not been effective in holding China accountable for its unfair trade practices, and they have harmed the global competitiveness of U.S. businesses.
“Leading retailers have worked hard to bolster their supply chains to be more agile and resilient in the face of uncertain economic conditions, and shield customers from feeling the impact of these high tariffs; but after carrying the weight of Section 301 tariffs for over five years, one thing is abundantly clear: tariffs are taxes ultimately paid by American businesses and consumers – not China.
“Broad-based tariffs are not strategic and will impede U.S economic growth – ultimately hamstringing American businesses trying to compete globally and negatively impacting the paycheck of American workers. It’s past time for the U.S. to explore more strategic avenues for holding China accountable and release U.S. retailers, workers, and the economy at large from the grip of stifling tariffs on consumer products.
“As the Biden administration and Congressional lawmakers consider policies to address the challenges in the U.S.-China relationship, we urge them to explore a more strategic, targeted approach that increases U.S. competitiveness globally.”
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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.
Tags
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International Trade
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Public Policy
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Supply Chain
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China Trade Tariffs
