SHANGHAI, May 19(SMM) - The National Retail Federation called on the Biden administration to reduce or eliminate tariffs on China in order to combat high inflation. The association said the removal of the Trump administration tariff policy could bring down prices by 1.3%. As a result of the trade war, US importers have been forced to pay an additional $136.5 billion in tariffs, the costs of which are ultimately transferred to the consumer side and passed on to consumers.
National Retail Federation Calls on Biden to Change Tariff Policy on China
The National Retail Federation called on the Biden administration to reduce or eliminate tariffs on China in order to combat high inflation.
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