The Retail Industry Leaders Association (RILA) issued the following statement in response to an announcement from President Trump that the Administration will impose tariffs on steel and aluminum imports.
"Today’s announcement that the Trump Administration intends to unilaterally impose tariffs on steel and aluminum imports could have severely negative consequences for the American economy. If broadly applied, these tariffs will have a downstream impact on every sector, and will raise the stakes for other countries to take retaliatory measures that will hurt America’s exporters,” said Hun Quach, vice president of international trade, RILA.
"The administration’s desire to challenge other country’s trade violations is an important goal for free and fair trade, but a broadly applied tariff could spark a potential trade war that zaps consumer spending and American exports."
RILA is the trade association of the worlds largest and most innovative retail companies. 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.