Dallas Market Center Launches Campaign Pushing 90-Day Pause on China Tariffs
The Dallas Market Center (DMC) is taking a stand to support Main Street retailers.
The center, a wholesale marketplace in North America and home to leading trade events supporting U.S. small businesses, is initiating a grassroots campaign that advocates for a 90-day pause on all tariffs between the U.S. and China. The initiative—'Stand With Main Street. Turn Off Tariffs'—is aimed at allowing for the free flow of goods critical to the upcoming holiday selling season. DMC has launchd a petition on its website in connection with the campaign to unify support across all retailers, manufacturers and their sales representatives, as well as service providers and other retail stakeholders.
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DMC said that the tariffs have placed 'an immediate and significant burden on Main Street retailers,' representing a 'vital share' of the 4.6 million retail businesses in the U.S., as well as the firms that supply them with goods. It also noted that the impact is growing more severe by the day, with the holiday season fast approaching because if the goods 'are not in transit within the next few weeks, economic consequences will be dire for the 55 million American jobs supported by retail.' The holiday season is expected to represent nearly $994 billion in retail sales. The final push for goods slated for holiday need to be in transit before the end of August.
In addition to the petition, DMC is coordinating different events, including with the National Retail Federation, a trade organization, to get the word out regarding business insights and how to navigate the tariff backdrop.
The petition on the DMC website said the industry is already seeing canceled or sharply reduced orders from retailer to manufacturers, resulting in factories stopping production. It also noted that delayed or canceled shipments are causing a reduction in inventory.
Looking ahead, supply chain disruption is expected soon if action isn't taken as shipments resume. That's because container availability will become tight and prices will be high. The result is likely reduced stock or empty store shelves during the 'most crucial quarter for retail revenue,' DMC said. Another risk cited by DMC is 'dangerously lowered margins' for retailers already navigating economic challenges. And DMC added there's also the risk of higher unemployment as retailers and manufacturers lay off workers.
In addition to the 90-day pause, the petition is also seeking the development of 'trade policy that strengthens U.S. business without sacrificing the retail backbone of our economy.'
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