{"id":1004210816,"date":"2018-03-20T07:50:08","date_gmt":"2018-03-20T15:50:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004210816"},"modified":"2022-12-07T14:23:17","modified_gmt":"2022-12-07T22:23:17","slug":"economy-watch-major-retailers-urge-no-new-tariffs-on-chinese-goods","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-major-retailers-urge-no-new-tariffs-on-chinese-goods\/","title":{"rendered":"Economy Watch: Major Retailers Urge No New Tariffs on Chinese Goods"},"content":{"rendered":"

By D.C. Stribling, Contributing Editor<\/p>\n

\"logistic-2636250_1920\"<\/a>Twenty-four major U.S. retailers, who represent an aggregate of about $1.5 trillion in annual sales, sent an open letter to President Trump on Monday, urging him not to impose further tariffs on imported goods<\/a> from China.<\/p>\n

“…We are concerned about the negative impact as you consider remedial actions under Section 301 of the Trade Act…<\/em>” the letter said. “Investigating technology and intellectual property policies and practices is critically important to our innovative economy…Yet were this investigation to result in a broadly applied tariff remedy on imports from China, it would hurt American households with higher prices and exacerbate a U.S. tariff system that is already stacked against working families.”<\/em><\/p>\n

The letter reiterated its point by asserting that consumers already pay high import taxes, as much as 32 percent and 67 percent on clothes and shoes.<\/p>\n

“Applying any additional broad-based tariff as part of a Section 301 action would worsen this inequity and punish American working families with higher prices on household basics like clothing, shoes, electronics, and home goods.”<\/em><\/p>\n

The letter further asked the administration to “carefully consider the impact on consumer prices. We must do right by American families while also addressing harmful technology practices.”<\/em><\/p>\n

The retailers included:<\/p>\n