U.S. retailers blast new China tariffs, say move will raise prices further, hurt jobs
Source: Reuters
AUGUST 1, 2019 / 2:37 PM / UPDATED 7 HOURS AGO
Andrea Shalal, Nandita Bose
3 MIN READ
By Andrea Shalal and Nandita Bose
WASHINGTON (Reuters) - President Donald Trumps threat to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1 will hurt consumer purchases, raise prices further and limit hiring, four large retail trade groups warned on Thursday.
Trump on Thursday moved to impose fresh tariffs after U.S. and Chinese negotiators failed to kick-start trade talks between the worlds two largest economies.
The National Retail Federation, which counts Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O) among its members, called the decision to impose new tariffs a flawed strategy that will hurt American consumers.
We are disappointed the administration is doubling-down on a flawed tariff strategy that is already slowing U.S. economic growth, creating uncertainty and discouraging investment, Senior Vice President for Government Relations David French said in a statement.
Read more: https://www.reuters.com/article/us-trade-china-retailers/u-s-retailers-blast-new-china-tariffs-say-move-will-raise-prices-further-hurt-jobs-idUSKCN1UR5KF
democratisphere
(17,235 posts)Control-Z
(15,682 posts)are to destroy the US economy in every way he can. Seriously.
kysrsoze
(6,022 posts)kimbutgar
(21,174 posts)The retailer profit margins are getting smaller. Wall Street going to be upset the retailer cant make the quarterly numbers because of fat Donnies retaliatory tariffs against the countries who wont kiss his ass.
Sherman A1
(38,958 posts)But neither of them are helpful to the current and coming debacle.
Fullduplexxx
(7,867 posts)RainCaster
(10,908 posts)Ten percent, folks.
Judi Lynn
(160,592 posts)KY_EnviroGuy
(14,494 posts)Maybe that's what the plutocrats want. With most everything sold over the internet, sales margins go up with lower overhead.
Trump's cabinet is driving the U.S. toward recession and with sky-high personal debt levels, externals like Brexit and a looming Iran conflict, it could be a doozy.
KY.......
rpannier
(24,333 posts)and a huge deal is coming soon
He's said that about 50 times