New Tariffs Mean Big Troubles For Retail, With Plenty Of Misery To Go Around

Late last week, President Trump escalated the trade war with China by raising the import tariff from 10% to 25% on some $200 billion in goods. Goods that land on our shores before June 1 will not be affected, but that means a whole lot of products on order for back-to-school and holiday retail will likely cost more. Among the list of goods impacted, which is heavy on food stuffs and raw materials for manufacturers, are electronics (vacuums, televisions), machinery (washing machines, air conditioners), clocks and watches, furniture and bedding, glassware and ceramics, precious jewelry and head gear. So far, the $325 billion finished apparel, fashion accessories and footwear categories are not impacted, but the raw materials to manufacture those goods are, including fabrics, buttons and leather. Read more at Forbes.