Tariffs may add to ‘a toxic brew for consumers’

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Retail Dive 17h ago

Tariffs may add to ‘a toxic brew for consumers’ - Retail Dive

Quick Summary:

Retailers and consumers will feel added pressure if proposed tariffs are implemented, industry analysts and experts told Retail Dive.

The reason, analysts and some of the companies said, is many businesses in the sector source most of their inventory from within the U.S.“The only way to mitigate this looming disaster is for retailers and manufacturers to negotiate and for retailers to source their goods more widely beyond China,” Carter said.“Consumers must budget wisely and shop around for the best deals that offer them a smart value proposition for their merchandise selections and their wallets.Keep up with the story.

During his campaign, President-elect Trump said he would impose across-the-board 20% tariffs on global U.S.imports, 25% on goods from Canada and Mexico and a 60% tariff on goods from China.