A vast retail ecosystem is required to get everyday products into the hands of American consumers. America’s retailers are dependent on a trading system that’s global, open, and efficient, to ensure American consumers get products they want and need anytime, anywhere.
As the largest US importers, retailers are especially vulnerable as the Trump administration seeks to impede the flow of trade through the blunt use of tariffs. Tariffs on washing machines, steel and aluminum, and imported consumer items from China create uncertainty for trade flows and negatively impact retailers and American consumers.
These actions have the potential to substantially increase the cost of sourcing products from abroad and add millions in operational costs. This ultimately leads to increased costs for consumers as we’ve seen washing machines whose price has increased by double digits since tariffs were imposed in February.
RILA is actively engaged with Congress and the administration in voicing retailers’ concerns over the negative impact tariffs have not only to our industry, but to the middle-class American families we serve every day.
Ahead of the meeting with Chinese President Xi Jinping at the G-20 Summit in Argentina, RILA sent a letter to President Trump applauding the administration’s efforts to seek resolution in the ongoing trade dispute. The letter emphasized the importance of resolving any underlying trade issues quickly in order to minimize the tariff impact on American consumers, retailers, and the millions of jobs supported by our supply chains.
Retailers are pleased with President Trump’s decision to delay tariffs from being increased on $200 billion worth of imports starting Jan. 1. Sourcing alternatives to China would take time, while prices will go up on everyday consumer items.
Despite this recent ceasefire, there is still a long road ahead in rebuilding our ongoing economic relationship with China. RILA will continue to educate lawmakers about the importance global trade has to American consumers and advocate for a bold trade agenda that creates new opportunities for open markets and lowers trade barriers.