NRF Warns of Tariffs’ $6B Consumer Impact

The National Retail Federation (Washington, D.C.) released a study that found that the proposed $200 billion tariffs on Chinese goods could lead to an annual $6 billion cost to American consumers.

In conjunction with the findings of its study, the retail trade organization has issued a strong warning to government officials about the tariffs’ repercussions: “By now the administration should know something it questioned several months ago: Tariffs will not get China to change its unfair trade practices … Instead, these tariffs threaten to increase costs for American families and destroy the livelihoods of U.S. workers,” said Jonathan Gold, NRF’s VP for Supply Chain and Customs Policy in a statement released by the company.

The organization has also warned that the tariffs will create a bidding war among alternative supply sources, driving up prices across the board for consumers, no matter where companies source their materials and products.

NRF said the greatest burden from the tariffs would be felt by small businesses, nearly half of which stand to face negative impacts from the tariffs, according to the organization’s recent research survey.