Steel, Aluminum Tariffs ‘Threaten’ US Retail Container Ports, Says NRF

The National Retail Federation doubled down Friday on its opposition to President Donald Trump’s tariffs on imported steel and aluminum, saying the administration’s trade measures “threaten import growth at container ports” that are the lifeblood of the U.S. retail industry. NRF CEO Matthew Shay on Thursday called the tariffs "an unnecessary tax on every American family and a self-inflicted wound on the nation’s economy" (see 1803080060). Imports at the major U.S. retail container ports are expected to dip slightly this month due to the shutdown of Asian factories for the lunar new year, not the aluminum and steel tariffs, which don’t take effect for another two weeks, said NRF Friday. “With steel and aluminum tariffs already in place, new tariffs on goods from China being threatened and the ongoing threat of NAFTA withdrawal, we could very quickly have a trade war on our hands,” said Jonathan Gold, NRF vice president-supply chain and customs policy, in a statement. “The immediate impact would be higher prices for American consumers that would throw away the gains of tax reform and put a roadblock in front of economic growth.” U.S. ports handled 1.73 million incoming 20-foot-long cargo containers in January, a 0.2 percent increase from December and a 1.8 percent rise from January 2017, said NRF. It estimates February finished with a 13.7 percent increase year-over-year, with March forecast to be down 1.8 percent from the same 2017 month.