Retailers Welcome Congressional Move to Rein in Tariffs
WASHINGTON--(BUSINESS WIRE)--Jun 6, 2018--The National Retail Federation called on lawmakers to pass bipartisan legislation introduced today that would require congressional approval of “Section 232” tariffs, including the steel and aluminum tariffs recently imposed by the Trump administration and any additional tariffs in the future.
“The Constitution is clear: Congress has the authority to regulate commerce and oversee trade,” NRF Senior Vice President for Government Relations David French said. “It’s time for Congress to exert its authority and play a leading role in mitigating escalating trade tensions with our strongest allies.”
“There needs to be a more appropriate balance on trade policy between Congress and the executive branch, and we applaud Senators Corker and Toomey for working to achieve that. With the threat of a global trade war, Congress must step in before the U.S. economy suffers, American jobs are lost and families are forced to pay more for everyday products.”
The legislation was introduced by Senate Foreign Relations Committee Chairman Bob Corker, R-Tenn., and a bipartisan group of senators. The tariffs, which were issued under Section 232 provisions of the 1962 Trade Expansion Act intended to allow protection of national security, have triggered widespread retaliation against U.S. exports. The administration is also considering tariffs on automobiles and auto parts.
The National Retail Federation is the world’s largest retail trade association. Based in Washington, D.C., NRF represents discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF.com
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CONTACT: National Retail Federation
Bethany Aronhalt, 855-NRF-PRESS
KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT CONGRESSIONAL NEWS/VIEWS LABOR MANUFACTURING PUBLIC POLICY AUTOMOTIVE MANUFACTURING WHITE HOUSE/FEDERAL GOVERNMENT STEEL AUTOMOTIVE AFTERMARKET RETAIL OTHER RETAIL GENERAL AUTOMOTIVE
SOURCE: National Retail Federation
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PUB: 06/06/2018 04:53 PM/DISC: 06/06/2018 05:47 PM