Ahead of President Joe Biden’s meeting with Chinese President Xi Jinping today, the Retail Industry Leaders Association’s (RILA) Vice President of International Trade Blake Harden issued the following statement:
“Retailers urge President Biden to seize today’s meeting as an opportunity to improve trade relations with China, and specifically to establish a clear pathway for rolling back Section 301 tariffs on consumer products.
“American businesses—including leading retailers—have carried the burden of Section 301 tariffs for the last five years to the tune of $197 billion that could be going towards preserving jobs, improving supply chain resilience, and investing in their businesses to compete globally. And despite best efforts to shield them, it’s American consumers who have ultimately paid the price. It’s time to recognize that these tariffs have not had their intended effect of holding China accountable for bad behavior, and instead, chart a more strategic path that puts American consumers and businesses first.
“We’re optimistic that today’s meeting will prove productive in stabilizing US-China relations. But failure to make tariff de-escalation a priority would be a missed opportunity to level the playing field for American businesses. Particularly as we head into the holiday shopping season, what better gift to family budgets than an off-ramp from an ineffective and costly trade policy?”
To learn more about how tariffs can negatively impact Americans and create disparities, visit here.
