Short-term thinking, long-term consequences
The NRF has been so vocal in their criticism of tariffs being applied by the US Administration to high-tech Chinese imports that Retail Directions' Pulse needs to comment. NRF CEO Matthew Shay said that "These tariffs won't reduce or eliminate China's abusive trade practices, but they will strain the budgets of working families by raising consumer prices." He is definitely right that tariffs will lead to some price increases, but his assertions that the tariffs will be ineffective seem groundless. If the US didn’t take action, the Made in China 2025 strategic plan would challenge US technological leadership, with severe strategic and economic consequences.