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Sun Jun 16, 2019, 12:36 PM

'Catastrophic,' 'Cataclysmic': Trump's Tariff Threat Has Retailers Sounding Alarm

https://www.nytimes.com/2019/06/16/business/economy/trump-china-tariffs-retailers.html

Already battered by the e-commerce revolution, traditional retail stores are bracing for another blow ó new tariffs on $300 billion worth of Chinese imports that the Trump administration is threatening to impose.

Retailers and analysts warn the impact will be disastrous for an industry already tormented by vacant storefronts and deserted malls. The reason: Unlike earlier tariffs that mostly targeted industrial and commercial products, the next round is aimed squarely at consumer goods like footwear, toys and apparel.

Even for healthy chains, like Walmart and Costco, the new duties threaten the business formula that helped speed their rapid rise over the last few decades: Import cheap products from Asia and sell them at rock-bottom prices. The National Retail Federation estimates that China supplies 42 percent of all apparel, 73 percent of household appliances and 88 percent of toys sold in the United States.

The government has already imposed tariffs on $250 billion worth of Chinese goods. President Trump has said he will decide on whether to impose duties on the remaining $300 billion in imports but hasnít set a firm deadline.

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Gee, I hope none of those retailers voted for Trump....

2 replies, 424 views

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Reply 'Catastrophic,' 'Cataclysmic': Trump's Tariff Threat Has Retailers Sounding Alarm (Original post)
jpak Jun 2019 OP
Hermit-The-Prog Jun 2019 #1
dalton99a Jun 2019 #2

Response to jpak (Original post)

Sun Jun 16, 2019, 12:42 PM

1. TrumPutin wants the crash to come just after 2020 elections

Vlad may want it sooner, though.

The biggest teeth the U.S. has is its economy. That needs to be destroyed for Putin's power to grow. China is on track to surpass the U.S., so hurting them also helps Putin. Putin's puppets in our WH and Senate will gladly continue to sell us out.

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Response to Hermit-The-Prog (Reply #1)

Sun Jun 16, 2019, 12:42 PM

2. The Trump recession is coming.

It is inevitable

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