As we enter 2018, the retail industry is coming off another strong holiday season bolstered by strong consumer confidence. Despite some media reports, the retail industry is not dying; it continues to evolve to meet the needs of its consumers, just like every other industry. Successful retailers will be those who adapt to meet the challenges of today and tomorrow.
The industry as a whole must remain nimble to meet these ongoing challenges. Part of this is being able to respond quickly to changes in industry and policy. We continue to believe the administration and Congress will find a way to work together on pro-growth policies affecting tax, trade, transportation, and labor that will spur economic growth for companies, workers, and consumers. Tax reform that lowers both business and individual rates will be central to spurring continued economic growth.
Trade policy continues to be an area that retailers are very focused on. We remain supportive of free trade policies that not only continue to open markets for US goods, but provide opportunities to source high-quality products at affordable prices for working families. While goods may be sourced from abroad, there is still a significant percentage of US content in those products that supports US jobs. Our trade policy should focus on and recognize the importance of the US jobs in the global value chain.
Threats of withdrawing from the North American Free Trade Agreement and starting trade wars with our closest trading partners should not be an option. Our trading relationships are not only vital to our economic well-being, but our economic security as well. Retailers will quickly adjust to any new rules or requirements that are put into place, but we need to ensure that they do not negatively impact our companies, workers, or customers.