THE National Retail Federation (NRF) has called on the Biden administration to repeal tariffs on goods from China, reports the American Journal of Transportation.
‘This report showing that rampant inflation continues is one more reason for the administration to move quickly to repeal tariffs,’ said nrf chief executive Matthew Shay.
‘Independent researchers and government agencies agree that ending tariffs is the fastest way to relieve the pressure of higher prices that American businesses, workers, and consumers are facing every day,’ said Mr Shay,’While the Federal Reserve continues with its long-term strategy to stem inflation, we need the administration and Congress to move forward on steps to lower prices that can be taken immediately. Repealing tariffs is one of those steps and one of the most effective and meaningful,’ he said.
NRF launched an ad campaign calling on the administration to repeal tariffs on goods from China that have cost US importers US$136.5 billion since 2018.
The tariffs cost the average family $1,200 a year, he said.
