📋 Tender Overview
The National Retail Federation issued the following statement from Senior Vice President for Government Relations David French in advance of President Trumps 2020 State of the Union addressThe state of the U.S. economy is strong and the U.S. consumer is the principle reason. Over the past year consumer confidence has remained high despite the uncertainties of the trade war the challenge of modernizing trade with Mexico and Canada and a range of threats from global politics. Today American consumers remain confident in the face of new uncertainties like coronavirus as well as the approaching 2020 elections.Despite these political and economic uncertainties consumer spending has increased at a faster rate than GDP for five out of the last seven quarters. Holiday retail sales saw strong growth over 2018 and put the economy in a solid position for steady growth in 2020. Our Super Bowl spending survey showed the highest spending numbers on record and the same is expected for Valentines Day.While consumers remain in a good place uncertainty around the ongoing trade war may cause consumers and businesses to be more cautious about spending. The trade war has killed 340000 jobs and is costing American households up to 1000 per year. The Phase One trade deal is a step in the right direction but the administration must continue negotiating with China and reach a final deal that eliminates all tariffs. In this consumer-driven economy lets not jeopardize the health of the consumer and the economy with self-inflicted wounds. Consumers are the key to our nations economy. Lets not stand in their way.
