‘Significant Risk’ If Tariffs Hit Consumers at Holiday Season, Says Retail Group
Though there's “no good time” for higher tariffs on Chinese imports to take effect, and if the Trump administration decides to impose them after the public comment process concludes at the end of May, “there is significant risk for these…
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proposed tariffs to hit American families at the worst time of year -- back-to-school and holiday season.” So said the Retail Industry Leaders Association in comments posted Monday in docket USTR-2018-0005. “The ripple effect this would have to the U.S. economy could ruin holidays for American families across this country,” said the trade group, which represents big-box retailers in multiple industries, including Best Buy, Costco, Target and Walmart. Retailers also worry about the “lack of transparency” if the U.S. Trade Representative’s office decides to add new product line items to its tariffs list without “the opportunity to comment,” it said. “It is critical to provide the opportunity for the public to comment on a final list before it is to take effect, particularly for any new products that may be added.”