The Retail Industry Leaders Association (RILA) issued the following statement from Chief Operating Officer Brian Dodge following today's announcement that the Trump Administration will raise tariffs on $550 billion worth of Chinese goods starting on September 1.
"Over the past 10 years, the United States has created record expansion built on a confident and empowered consumer. A protracted and costly trade war is the one thing that can shatter consumer confidence and ground this economic high.
"The President’s continued escalation of tariffs has already rattled the U.S. market. If uncertainty spreads from Wall Street to Main Street, the record expansion we’re enjoying will undoubtedly come to an end and it will be the American consumer, not China, who will suffer.
"Mr. President, we implore you to end this trade war before the damage is irreversible."
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 $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.