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.
