Indicators suggest that the economy has begun to recover as businesses reopen from the pandemic, but it’s uncertain how steadily the comeback will continue.
A record 189.6 million U.S. consumers shopped (combined, in stores and online) from Thanksgiving Day through Cyber Monday this year, according to a report by National Retail Federation and Prosper Insights & Analytics.
Retailers wasted no time in responding to the Trump administration’s announcement imposing a 10% tariff on $300 billion worth of Chinese imports set to take effect on Sept. 1.
The news that the Trump administration plans to move forward with an additional 10% tariff on $200 billion worth of Chinese goods by Sept. 24 is being heavily criticized by retailers.
The White House’s announcement that it will consider imposing a tariff of 25% rather than 10% on $200 billion in goods from China drew an immediate response from one of the nation’s leading retail organizations.
Retailers continue to register their opposition to the proposed tariffs on Chinese goods, with the first round ($34 billion) set to take effect beginning 12:01 a.m. Eastern Time, on Friday, July 6.
