The NRF is concerned about the potential impact the U.S.-China trade dispute will have on retail sales in 2019's latter half.Photo – Port of Savannah
The National Retail Federation (NRF) late last week expressed alarm about the Trump administration's escalating trade dispute with China, and the impact the tariffs could have on retail sales and the U.S. economy.
NRF issued its response soon after the administration announced Aug. 23 that current tariffs on $250 billion in Chinese goods will increase from 25 percent to 30 percent on Oct. 1. New tariffs set to take effect Sept. 1 and Dec. 15 on $300 billion in Chinese goods will rise from 10 percent to 15 percent.