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WASHINGTON – The Retail Industry Leaders Association (RILA) has issued a statement on President Donald Trump's tariff announcement yesterday.
In the Rose Garden, the president announced a trade policy overhaul, introducing a 10% tariff on all foreign imports starting April 5. He imposed higher tariffs on 60 surplus countries: 20% on EU imports and 34% on Chinese goods, effective April 9. He called this initiative a “Declaration of Economic Independence,” aimed at boosting domestic manufacturing and correcting unfair trade practices.
The Retail Industry Leaders Association statement:
“The American people are counting on President Trump to grow the U.S. economy and end inflation. Unfortunately, the President’s plan for universal tariffs on household goods – including clothing, groceries, home goods and school supplies – will raise costs on every American family. The President’s plan is not a targeted attempt to protect American innovation or national security but will hit every family’s budget. Americans cannot afford another round of price increases,” said RILA Senior Executive Vice President, Public Affairs Michael Hanson.
“These newly announced tariffs — and the expected retaliatory tariffs on American businesses — risk destabilizing the U.S. economy, undermining the goals of bolstering domestic manufacturing and growth. We urge the President and his economic team not to abandon the pro-growth policies that powered his first term — namely the Tax Cut and Jobs Act. Before lasting damage is done to the economy and family budgets, we urge the White House to reconsider its course.”
