NRF: Roll back China tariffs to ease inflation

WASHINGTON — The National Retail Federation (NRF) is calling on the Biden Administration and Congress to repeal import tariffs on goods from China to help rein in "rampant" inflation and reduce the cost of consumer goods.

Citing the most recent Consumer Price Index numbers released by the Bureau of Labor Statistics, NFR President and CEO Matthew Shay said, "Independent researchers and government agencies agree that ending tariffs is the fastest way to relieve the pressure of higher prices that American businesses, workers and consumers are facing every day."

The NRF claims the tariffs on goods sourced from China cost the average U.S. family more than $1,200 a year in tariff-related costs.

"While the Federal Reserve continues with its long-term strategy to stem inflation, we need the administration and Congress to move forward on steps to lower prices that can be taken immediately. Repealing tariffs is one of those steps and one of the most effective and meaningful."

Earlier this week, the NRF launched an advertising campaign calling on the administration to repeal tariffs on goods from China that have cost U.S. importers $136.5 billion since 2018.

The campaign, which includes a 30-second television spot called "Lower Inflation Now by Repealing Tariffs," is the second phase of a seven-figure NRF advocacy campaign with broadcast, digital and out-of-home advertising.

"No one is closer to the consumer than the retail industry," Shay said, "and retailers are doing everything they can to keep prices down despite the economic pressures of high inflation.

"We encourage the administration to work with our trading partners, particularly China, to roll back tariffs that contribute to the high cost of goods and services and provide much-needed relief for American consumers," Shay said.

"Tariffs are among the many costs out of retailers' control that drive up prices paid by consumers. But unlike other costs, the administration can eliminate tariffs with the stroke of a pen."

The NRF, through a Lower Inflation Now grassroots campaign, also is urging Congress to address the nation's labor shortage and supply-chain crisis as additional concrete solutions to lower inflation.

"While change takes time, repealing and lowering tariffs will help relieve pressure on American consumers," Shay said. "We know this is only one of the solutions under consideration to rein in skyrocketing prices, but we urge the administration to prioritize the repeal of tariffs."

Washington-based NRF is considered the world's largest retail trade association, with over 3.8 million retail establishments as members. The NRF membership also includes industry partners, universities and students.