NRF President and CEO Matthew Shay appeared Tuesday morning on Fox Business Network’s Varney and Co. to discuss the “phase one” trade deal with China announced earlier this month by President Trump. The appearance came as reports indicated that Trump and China President Xi Jinping will meet in November.
“This uncertainty has been very disruptive,” Shay said, referring to tariffs on imports from China imposed over the past year. “So anything that gives us some certainty going forward and gets the parties back, maybe come to some sort of agreement, that would be very positive.”
Shay also addressed retail sales during the upcoming holiday shopping season.
“The U.S. consumer is in very good shape and we’re looking for a really positive holiday season,” Shay said.
Earlier this month, NRF forecast that holiday retail sales during November and December will increase between 3.8 percent and 4.2 percent over 2018 to a total of between $727.9 billion and $730.7 billion.
