“NRF strongly supports the administration’s efforts to address China’s unfair trading practices but we hope this is the first step toward eliminating all of the tariffs imposed over the past two years,” NRF President and CEO Matthew Shay said. “The trade war won’t be over until all of these tariffs are gone. We are glad to see the phase one deal signed, and resolution of phase two can’t come soon enough.”

Shay was on hand as President Trump and Chinese Vice Premier Liu He signed the agreement at the White House today. As part of the deal, the United States will cut in half 15 percent tariffs imposed on a wide range of consumer goods imposed in September and canceled another round that was set to take effect in December, but others remain in effect.