NRF responds to rising CPI by urging administration to repeal china tariffs

The National Retail Federation today called on the Biden administration to repeal tariffs on goods from China, citing Consumer Price Index numbers released this morning by the Bureau of Labor Statistics.

“This report showing that rampant inflation continues is one more reason for the administration to move quickly to repeal tariffs,” NRF 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. 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.”

NRF earlier this week launched an ad campaign calling on the administration to repeal tariffs on goods from China that have cost U.S. importers $136.5 billion since 2018. The tariffs have driven up prices for American consumers, costing the average family more than $1,200 a year.