NRF: Americans will pay nearly 7 billion USD more for clothing and shoes with new tariffs

The National Retail Federation (NRF) has joined the voices against tariffs of up to 25 percent on imports of approximately 300 billion US dollars in Chinese goods, as proposed by the Office of the US Trade Representative. “We find that the proposed tariffs, especially at 25 percent, would be too large for US retailers to absorb and, once passed on, would result in prices higher than many consumers would be willing to pay”, says the NRF in a report about the estimated impact of the tariffs on several categories, including apparel and footwear. According to the report, American consumers would pay 4.4 billion US dollars more for apparel and 2.5 billion US dollars more for footwear.