Latest Tariffs Throw Away Tax Reform Benefits -Retailers

August 8, 2018

© yaniv / Adobe Stock
© yaniv / Adobe Stock

The latest round of U.S. tariffs on Chinese goods counteract the benefits of tax reform and harm the nation's economy, according to a U.S. retail trade association.

The Office of the U.S. Trade Representative today released a final list of $16 billion worth of goods from China that will be subject to a 25 percent tariff effective August 23, as part of an escalating trade war between the world’s two major economic powers.

“This is just another step toward throwing away the benefits of tax reform that have given our nation’s economy a badly needed boost,” said Matthew Shay, president and CEO of the National Retail Federation.

“These tariffs might be part of an effort to bring about fair trade with China, but as we’ve said before all we have seen so far is a huge risk for American consumers and workers with no endgame in sight,” Shay said. “It’s time to stop digging a deeper hole while we can still climb out.”

Logistics News

Great Lakes Limestone Trade Up in June

Great Lakes Limestone Trade Up in June

Consilium Safety Group Appoints New Chairman of the Board

Consilium Safety Group Appoints New Chairman of the Board

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

MDL Leases Land for Peterhead Offshore Project Support Site

MDL Leases Land for Peterhead Offshore Project Support Site

Subscribe for Maritime Logistics Professional E‑News

Heatwave in Europe forces France to close schools and Italy to limit outdoor work
US sources claim that Iran has made preparations for the mining of the Strait of Hormuz.
Is the escalating spat between Trump and Musk a regulatory threat to Musk's businesses?