WASHINGTON — May 12, 2025 — The following statement may be attributed to National Retail Federation President and CEO Matthew Shay regarding the Trump administration’s announcement that it will reduce tariffs on imports from China for 90 days to continue trade negotiations.
“We applaud the U.S. and China for agreeing to a 90-day pause on the 125% reciprocal and retaliatory tariffs. We are encouraged by these constructive negotiations, which provide for a significant de-escalation in the current trade relationship.
“This temporary pause is a critical first step to provide some short-term relief for retailers and other businesses that are in the midst of ordering merchandise for the winter holiday season. And over the long term, this lays the foundation for substantial progress in achieving truly fair and balanced trade relationships with both China and our other trade partners around the world.
“We urge the administration and our Chinese trade partners to continue discussions to address the ongoing issues, work to remove the remaining national security tariffs, and provide long-term stability between the two largest global economies.”
Posted: May 12, 2025
Source: The National Retail Federation (NRF)
