The United States’ National Retail Federation (NRF) has warned that President Donald Trump’s “reciprocal” tariffs regime that imposes duties of between 10% and 48% on all imports will severely affect households and businesses.
NRF Executive Vice President of Government Relations, David French, said the tariffs announced on Wednesday night (SA time), which include duties of 30% on South Africa, 34% on China, 20% on the EU and 10% on Brazil, will hit small businesses and poor families the hardest.
The new tariff regime does not include Canada and Mexico, which are engaged in a separate tariff dispute with the US.
“More tariffs equal more anxiety and uncertainty for American businesses and consumers. While leaders in Washington may not care about higher prices, hardworking American families do,” said French.
He said, according to an NRF poll conducted by Morning Consult, 80% of voters said small businesses played an important role in their local economy.
“These tariffs will have a disproportionate impact on local communities and will be particularly harmful to small retailers.
“Voters do not see tariffs as helping vulnerable communities, including blue-collar workers, rural communities, families with young children, low-income households, the elderly and farmers.
“Tariffs are a tax paid by the US importer that will be passed along to the end consumer. Tariffs will not be paid by foreign countries or suppliers.”
He said the immediate implementation of the tariffs would be a massive undertaking and required both advance notice and substantial preparation by the millions of US businesses that would be directly impacted.
“We encourage President Trump to hold trading partners accountable and restore fairness for American businesses without creating economic uncertainty and higher prices for American families.”
