Following the Administration's announcement that it will impose new steel and aluminum tariffs on imports from the European Union, in addition to Canada and Mexico, the Retail Industry Industry Leaders Association's Vice President of International Trade Hun Quach issued the following statement:
"Today's White House announcement to unilaterally impose new tariffs on steel and aluminum imports from the European Union, Canada, and Mexico will have a negative impact on every sector of the American economy. The downstream impact of these tariffs will raise the cost of doing business for thousands of American companies, including retailers, and will stifle efforts to expand and create jobs. Imposing tariffs raises the stakes for our allies to take retaliatory measures that will hurt America's exporters while creating more uncertainty for American businesses. The administration has created a three-front trade war, targeting NAFTA, China, and now the European Union, with no resolution to any of these disputes in sight."
RILA is the trade association of the world's 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.