A new report, published by Port Tracker Report issued by the National Retail Federation (NRF) and maritime consultancy Hackett Associates, shows that American retailers are stockpiling to counter the effects of the trade war between the USA and China.
“With a major tariff increase already announced and the possibility that tariffs could be imposed on nearly all goods and inputs from China, retailers are continuing to stock up while they can to protect their customers as much as possible against the price increases that will follow,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in a statement. “Tariffs are taxes paid by American businesses and consumers, not foreign governments. Retailers will continue to do everything they possibly can to mitigate the impact of tariffs on consumers, but if we see further escalation in the trade war, it will be much more difficult to avoid higher price tags on a wide range of products. It’s time to stop using American families as pawns in negotiations for better trade deals.”