Trump's tariffs won’t help US economy, consumers: NRF president

Channel: Fox Business
Published: 9 hours ago

Description
National Retail Federation President and CEO Matthew Shay says tariffs on Chinese goods and potentially on Mexican goods will hurt the U.S. economy and consumers. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main S...



Transcript
I want to talk retail for a moment now. Our guest says these tariffs on chinese goods being too much for retail customers, and maybe the upcoming tariffs on mexico would do the same. Mat shares with the ceo of the national retail federation, all right man. You say that these tariffs have gone too far, make your case well, stuart. Listen, i think we're in an economy where things are very positive. ...
onsumers are in a good position. You know leave the market aside for a minute, because we know that's in many ways, not the real economy. Consumer confidence is high, the unemployment rates low wages are growing, so we don't want to run into any self-inflicted woundsor any headwinds unnecessarily, and i think the case has been pretty well documented and well made that these tariffs, our taxes, the the tariffs on goods coming out Of china and now adding another set of tariffs on goods coming out of mexico, not going to be helpful for our economy or for american consumers, and we hope that we can get back to the table and have some shuffle conversations and avoid this. This is politics. Is important here when president trump passed the tax reform deal and gave businesses a big tax cut the retail federation pretty much supported that very much. Has the president lost your political support because of the trade fights? No, i thinklisten, the president is the president is very smart. The president, i think, has a plan here and he's got a couple of priorities.

One priority, of course, is to ensure that we've got a healthy, strong, growing economy, another priority and he's very passionate about this is border security and ensuring that we've got a thoughtful approach to immigration. You'Re just talking to sean duffy, you know congratulation, i'm surprised. You'Ve only been officially an american citizen three years, my grandparents are immigrants. We all want it to be done. The right way. The lawful way president's very passionate about that. I think your immediate prior guest, the former us trade representative, michael froman, made a good point. Okayand, the problem is, you start mixing tariffs and trade policy with immigration and other policies. It gets confusing for our partners. You want you to put these tariffs in place. How do you get them off? So we'd like to see some straightforward approach to getting these things resolved, but the president has done a lot of great things, and tax reform is certainly right up at the top of the list. Okay, matt shea.

Thank you very much for joining us. We'Ll obviously keep an eye on trade and tariffs and see where we go from here. Matt show everyone. Thank you. So thanks, stuart.


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