NRF Urges Collaboration With New Administration to Boost American Competitiveness and Protect Consumers
The National Retail Federation (NRF) has expressed its eagerness to collaborate with the new administration and Congress. The federation aims to promote policies that boost American competitiveness, create jobs, and strengthen consumers. It has also highlighted its support for President Trump's initial actions on trade policies and avoidance of tariffs on everyday consumer goods.
The NRF has identified four key policy priorities. Firstly, it seeks the extension of tax provisions, including the preservation of the competitive 21% corporate tax rate, which it believes should not be raised. Secondly, it advocates for a strategic approach to trade and tariffs, aiming to protect consumers from increased costs.
The federation also focuses on swipe fees, supporting the passage of the Credit Card Competition Act. This act aims to inject competition into the credit card routing market, potentially saving businesses up to $16 billion each year.
Moreover, the NRF is concerned about the rise in organized retail crimes. It reports elevated levels of shoplifting, ecommerce theft, return fraud, warehouse robberies, and cargo theft. To address this, the federation looks forward to working with Congress to reintroduce and advance the Combating Organized Retail Crime Act.
A study by the NRF estimates that American consumers could lose between $46 billion and $78 billion in spending power each year if proposed tariffs are implemented. This underscores the federation's commitment to protecting consumers and advocating for fair trade policies.
The NRF stands ready to work with the new administration and Congress to advance these policy priorities. By doing so, it aims to enhance American competitiveness, create jobs, strengthen consumers, and combat organized retail crime. The federation's efforts reflect its commitment to promoting a healthy and vibrant retail industry.
