Tritton said the import taxes would likely raise the prices on basic family necessities such as cribs as well as infant car seats — as well as even raise the costs of sending a child to college because of the higher duties on desks, bookshelves as well as various other dorm room needs.
Dollar Tree CEO Gary Philbin argued for dozens of exemptions coming from the tariffs, saying they would likely seriously harm the discount retailer’s customers, “many of whom are low-income as well as rely on our stores for their daily necessities.”
The taxes would likely also have a “significant negative impact” on the company itself, impacting thousands of products, costing “tens of millions of dollars” in revenue, stifling growth as well as threatening jobs, he said in a Sept. 6 letter.
“The merchandise we import coming from China will be the product of low-cost, labor-intensive manufacturing processes — the exact opposite of the kinds of ‘industrially significant technology’ in which the investigation will be targeting,” he said.
Sears executive Dean Schwartz also argued against the merits of the tariffs. He said they would likely have significant impact on the retailer, which will be already struggling.
“A ‘remedy’ for China’s unfair acts which harms U.S. retailers, consumers as well as an iconic U.S. brand such as Sears will be not much of a remedy at all,” Schwartz wrote in his Sept. 5 letter.
Walmart, the largest retailer from the United States, also opposed the tariffs, saying the idea will be “very concerned about the impacts these tariffs would likely have on our business, our customers, our suppliers as well as the U.S. economy as a whole.”
The group letter signed by roughly 300 retailers said they cannot shift their suppliers as well as production out of China “without massive disruption as well as cost increases due to materials availability, quality, compliance, as well as capacity in various other countries.”
“Millions of U.S. jobs in our industry’s global value chains — including those in research as well as design, supply chain, manufacturing, compliance, logistics, as well as retail — would likely be put at risk if a brand new 10 percent or 25 percent tax were imposed, due to fewer sales, less investment, as well as cost increases throughout U.S. supply chains,” the group wrote.
WATCH: the idea was once the biggest retailer from the US. 125 years later, Sears looks a lot different