Tariffs Loom Large Over Biden, Xi Meeting
Biden has opportunity to put U.S. businesses, families first
- By [ Blake Harden ]
- Washington, DC
- 11/14/2023
“Retailers urge President Biden to seize today’s meeting as an opportunity to improve trade relations with China, and specifically to establish a clear pathway for rolling back Section 301 tariffs on consumer products.
“American businesses – including leading retailers – have carried the burden of Section 301 tariffs for the last five years – to the tune of $197 billion – that could be going towards preserving jobs, improving supply chain resilience, and investing in their businesses to compete globally. And despite best efforts to shield them, it’s American consumers who have ultimately paid the price. It’s time to recognize that these tariffs have not had their intended effect of holding China accountable for bad behavior, and instead, chart a more strategic path that puts American consumers and businesses first.
“We’re optimistic that today’s meeting will prove productive in stabilizing U.S.-China relations. But failure to make tariff de-escalation a priority would be a missed opportunity to level the playing field for American businesses. Particularly as we head into the holiday shopping season, what better gift to family budgets than an off-ramp from an ineffective and costly trade policy?”
To learn more about how tariffs negatively impact Americans and create disparities, visit here.
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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.
Tags
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International Trade
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Public Policy
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Supply Chain
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Supporting Free Markets and Fostering Innovation
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China Trade Tariffs