National Retail Federation CEO Matthew Shay issued concerns about Trump's recently proposed tariffs saying it could would drive-up prices and result in job losses.
National Retail Federation CEO Matthew Shay warned that shoppers could face higher prices on an array of goods if President-Elect Donald Trump's proposed tariffs on imports to the United States are implemented. "The adoption of across-the-board tariffs on consumer goods and other non-strategic imports amounts to a tax on American families," Shay said in a statement to FOX Business. It will drive inflation and price increases and will result in job losses.
Still, Shay said the industry is ready to work with the incoming administration and members of Congress to enact tax, trade and regulatory policies that he says will "make America more competitive, increase domestic investment and create jobs." If effective trade policies are implemented, Shay said America can become more competitive with research, development and innovation. It will also help protect our infrastructure and improve the living conditions for Americans, he added.
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