Washington, DC – The Retail Industry Leaders Association (RILA) issued the following statement from Jennifer Safavian, RILA executive vice president of government affairs, in response to the president’s announcement indicating that the U.S.-China talks have resulted in an interim deal that suspends the tariff increase from 25%-30% on $250 billion of Chinese imports:
“Suspending the Oct. 15 tariff increase is welcomed news for retailers, consumers and the global economy. The administration knows that the trade war and specifically the harmful tariffs are weakening the U.S. economy, hurting manufactures and causing consumers to pay more for everyday items like shoes, sweaters and sporting equipment.
“Relief from the anticipated tariff increase is appreciated, but only a long-term agreement will alleviate the uncertainty inflicted by the trade war. We are encouraged by the reported productive tone of the US-China talks and will continue to press the administration for a comprehensive trade deal that ends the tariffs on all product lines.”
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.