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HFPA warns: Latest tariff move could hit textiles NRF chides Trump threat for even more tariffs as “reckless” Home Textiles Today Staff , June 19, 2018 New York – Home textiles have dodged the Trump administration’s tariff scheme twice – but probably won’t be so lucky in round three. Following the administration’s announcement last night that it considering tariffs on an additional $200 billion in Chinese goods – this would be the third such action – the Home Fashion Products Association’s (HFPA) counsel issued a warning to members this morning. “Neither of those two previous lists has textiles or textile products on it. However, even though the USTR has just started developing this third list, it is very likely to contain the products that were removed from the first list. And it is likely that textiles and textile products will also be on it,” wrote Robert Leo , partner at Meeks, Sheppard, Leo & Pillsbury . The National Retail Federation also issued a statement about President Trump’s latest tariff threat, calling it a “reckless escalation” that Congress should step in to thwart. A study conducted earlier this year for NRF and the Consumer Technology Association found that tariffs on $50 billion of Chinese imports, as announced last week, would reduce U.S. gross domestic product by nearly $3 billion and lead to the loss of 134,000 American jobs, with four jobs lost for every job gained. Imposing tariffs on an additional $100 billion of Chinese imports would bring the total impact to a $49 billion reduction in GDP and the loss of 455,000 jobs, according to the NRF . “This is just what we predicted – a tit-for-tat trade war has erupted and American families are caught in the middle,” NRF said. “Higher prices for everyday essentials and lost jobs threaten to sap the energy out of the strong U.S.
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