Retailers Form Coalition to Fight Import Taxes
Americans for Affordable Products, that’s the name of a new organization formed to fight taxes on imports to the United States.
Eric Johnson reported in American Shipper:
A group of more than 100 U.S. retailers and retail trade associations on Wednesday created a new organization dedicated to highlighting the increase in prices consumers would face if Congress and the Trump administration follow through on policies to add taxes or tariffs to U.S. imports.
Members of the coalition include some of the country’s biggest importers, like Walmart, Target, DICK’s Sporting Goods and Macy’s. It also includes manufacturers that operate retail outlets in the United States, like Abercrombie & Fitch, or both operate independent outlets and depend on retailers to sell their products manufactured abroad, like Nike and Levi Strauss & Co.
Major trade associations, like the National Retail Federation, the Retail Industry Leaders Association, the American Apparel & Footwear Association, as well as a number of state retail associations are also involved.
Retailers who sell imported goods have been worried about protectionist policies from President Trump increasing the costs of the products they sell.
Increased tariffs and taxes on imported goods from around the world will hurt the average American, according to the Americans for Affordable Products coalition, by increasing the cost on an assortment of goods Americans buy every day. The coalition says on its website:
The Americans for Affordable Products is a coalition of job creators, entrepreneurs, and business leaders united against higher prices on everyday necessities. We oppose any Border Adjustment Tax (BAT) because it will increase the cost of clothing, food, medicine, gas, and other essential items that Americans rely on. Consumers shouldn’t bear the burden of this new tax while some corporations get a tax break. We fight for consumers by protecting their pocketbooks and ensuring access to affordable everyday products. We support comprehensive tax reform and encourage Congress to implement policies that helps businesses of all sizes, ensures the protection and creation of jobs, and promotes prosperity for all Americans.
Right now, Congress is moving a BAT forward that is exactly the kind of thing that importers are worried about, creating the urgency for the Americans for Affordable Products coalition. Surprisingly, the coalition just may have an ally in the White House when it comes to this BAT.