Today, the trade association for the world's largest and most innovative retail companies reacted to the Trump Administration's announcement of trade violations and the proposed remedies to retaliate against China's harmful technology transfer policies and intellectual property rights practices. The Retail Industry Leaders Association (RILA) backs the administration's goal of holding trading partners accountable for violating American intellectual property rights, however, has expressed concerns about the impact on American families of a $50 billion tax on consumer goods.
Hun Quach, vice president of international trade for RILA, urged the Administration to re-evaluate the tariff remedies it outlined today to better account for the consequences it will have for American families.
"Retailers fully support holding our trading partners accountable when there is a proven case of intellectual property theft. But the punishment should fit the crime, and more importantly, it should punish the bad actor - China. Taxing American families with widespread tariffs on everyday consumer products clearly misses the mark.
"There is no way to impose $50 billion in tariffs on Chinese imports without it having a negative impact on American consumers. Make no mistake, these tariffs may be aimed at China, but the bill will be charged to American consumers who will pay more at the checkout for the items they shop for every day. This trade tax has the potential to wipe out any gains the average American family received from tax reform."
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.