Coronavirus: US Jewelry Trade Urges Trump to Help
March 26, 20
(IDEX Online) - Jewelry trade organizations are among 90 US groups urging President Trump to help businesses threatened by the coronavirus
The signatories include Jewelers of America, Jewelers Vigilance Committee, the Women's Jewelry Association and the Tri State Jewelers Association.
"The economic harm from social distancing and mandatory store closures is real. Layoffs and economic hardship will surely follow, particularly for smaller, specialty retailers and brands," says the letter, sent to the White House on Saturday.
It cites National Retail Federation research indicating that a 20% reduction in sales for three months period would result in $429.9bn of losses in all sales.
"Retailers are not only the bedrock of the U.S economy, but also support many supply chainsthroughout the U.S. and the local communities they serve.
"Our collective members are working to ensure the health and safety of their employees, supply chain partners and customers first and foremost.
"We want to make sure these companies are able to continue operations when we eventually get through this crisis."
Jennifer Markas, executive director of the Women's Jewelry Association, said: "Federal relief is paramount in the fight to protect our members and their employees. We will continue to advocate for our members together with other industry associations to amplify our voices at the national level."