Trump's new tariffs will raise prices for US consumers, warns NRF

Fibre2Fashion

4 days ago

The National Retail Federation (NRF) has expressed strong concern following President Donald Trump's announcement of new tariffs on multiple countries, warning of adverse effects on US retailers and consumers.
In an official statement, David French, NRF executive vice president of government relations , urged the administration to prioritise trade agreements that reduce—not raise—tariffs. 'Tariffs are taxes paid by US importers and are eventually passed along to US consumers,' he said, cautioning that the result would be 'higher prices, decreased hiring, fewer capital expenditures and slower innovation'.
French noted that while retailers have so far managed to keep prices stable, the newly announced tariffs will begin to affect merchandise costs in the coming weeks. 'We have heard directly from small retailers who are concerned about their ability to stay in business in the face of these unsustainable tariff rates,' he added.
NRF has raised alarms over new tariffs announced by Trump, warning they will drive up costs for US consumers and threaten retail jobs. NRF's David French urged the administration to lower tariffs through trade agreements, stating the added costs are unsustainable for small retailers. NRF cautioned that escalating tariffs could disrupt the retail sector and reduce affordability for American shoppers.
The NRF called on the administration to pursue binding trade agreements that genuinely open markets, warning that further tariff escalation could severely disrupt the retail ecosystem and consumer affordability.
Fibre2Fashion News Desk (KD)