Execs starting to worry about tariffs’ effects on consumers
5 years, 4 months ago

Execs starting to worry about tariffs’ effects on consumers

Associated Press  

Americans continue to shop, vacation and buy cars at a brisk clip. But corporate America is starting to worry out loud that President Donald Trump’s tariffs will depress consumer spending and undermine the economy. Home Depot, the nation’s largest home improvement chain, said as much on Tuesday, when it reported higher-than-expected profits for the quarter but cut its sales expectations for the year, citing the tumbling price of lumber and the “potential impacts to the U.S. consumer arising from recently announced tariffs.” That marked at least the second time in a week that retail executives raised the fear that consumers might pull back on spending. “If trade policy tensions ease and the labor market remains solid, we would likely see a rebound in consumer sentiment,” said Jesse Edgerton, a senior economist at JPMorgan Chase. The administration was also mindful that the latest round of tariffs would raise consumer prices during the crucial holiday shopping season, so it delayed nearly 60% of them until Dec. 15.

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History of this topic

'Would be heartbreaking': Retailers warn Trump could wreck next Christmas with toy tariffs
2 weeks ago

'Would be heartbreaking': Retailers warn Trump could wreck next Christmas with toy tariffs

Raw Story  

President-elect Donald Trump is vowing to slap heavy tariffs on all foreign-made goods once he reassumes the presidency next year, and some retailers are warning that could be bad news for children who are expecting their favorite toys next Christmas. CBS News reports that The Toy Association, an industry organization, has found that nearly 80 percent of American toys are …

Americans rush to buy cars, appliances before Trump's new tariffs
2 weeks, 6 days ago

Americans rush to buy cars, appliances before Trump's new tariffs

China Daily  

NEW YORK -- Americans are scrambling to stock up on cars, appliances and other big-ticket imports in anticipation of new tariffs from the Donald Trump administration, a spending spree that could reignite the very inflation buyers are hoping to avoid, reported The Washington Post on Thursday. "President-elect Trump has vowed to enact widespread tariffs as soon as he takes office …

Americans rush to buy cars, appliances before Trump's new tariffs
2 weeks, 6 days ago

Americans rush to buy cars, appliances before Trump's new tariffs

China Daily  

Americans are scrambling to stock up on cars, appliances and other big-ticket imports in anticipation of new tariffs from the Donald Trump administration, a spending spree that could reignite the very inflation buyers are hoping to avoid, reported The Washington Post on Thursday. "President-elect Trump has vowed to enact widespread tariffs as soon as he takes office in January, a …

China’s weak consumption drags on economy as Trump tariff threat looms
3 weeks, 3 days ago

China’s weak consumption drags on economy as Trump tariff threat looms

CNN  

Beijing Reuters — China’s industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more US trade tariffs under a second Trump administration. “China’s economic policies have been amazingly consistent in promoting manufacturers over consumers despite clear signs of lasting weakness,” said Dan Wang, a …

Are fears of higher tariffs leading you to stockpile goods?
4 weeks, 2 days ago

Are fears of higher tariffs leading you to stockpile goods?

CNN  

New York CNN — From the very moment President-elect Donald Trump takes the oath of office on January 20, he’ll be able to levy tariffs on imports from other nations. On that day, he has already vowed to impose a 25% tariff on Mexican and Canadian imports as well as an additional 10% tariff on Chinese goods. These tariffs have …

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners
4 weeks, 2 days ago

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners

China Daily  

To those worrying about the uncertainties heralded by a new incoming United States administration and the president-elect's unpredictability, there is one thing at least that is predictable: He will continue wielding the baton of tariffs. Because as the accumulative effects of the tariffs he imposed in his first term and the subsequent ones that the Joe Biden administration has added …

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners: China Daily editorial
1 month ago

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners: China Daily editorial

China Daily  

This photo taken on Jan 19, 2023 shows the US Capitol building in Washington, DC, the United States. To those worrying about the uncertainties heralded by a new incoming United States administration and the president-elect's unpredictability, there is one thing at least that is predictable: He will continue wielding the baton of tariffs. On the campaign trail, he told US …

Retailers point to solid U.S. sales over holiday weekend
1 month ago

Retailers point to solid U.S. sales over holiday weekend

Raw Story  

U.S. consumers turned out in force in stores and online over the Thanksgiving weekend, a key stretch in the holiday shopping season, a leading retailer group said Tuesday. A total of 197 million shoppers, about 59 percent of the U.S. population, made purchases during a five-day stretch that includes Black Friday and Cyber Monday, according to figures from the National …

Small business owners brace for Trump’s proposed tariffs
1 month ago

Small business owners brace for Trump’s proposed tariffs

Associated Press  

Small businesses are bracing for stiff tariffs that President-elect Donald Trump has proposed as one of his first actions when he takes office. Small business owners say they’re waiting to see what final form the tariffs take, but are bracing for higher costs that they may in turn need to pass on to consumers. Laurel Orley, cofounder and CEO of …

What to buy now before Trump’s tariffs kick in
1 month, 1 week ago

What to buy now before Trump’s tariffs kick in

CNN  

New York CNN — During this busy holiday shopping season, some bargain hunters may be wondering if this is the ideal time to stock up on items before they could cost a lot more. But a 10% across-the-board import tariff, plus the additional 60% on Chinese goods, could cause the price of a new smartphone to rise by 26% to …

What to buy now before Trump’s tariffs kick in
1 month, 1 week ago

What to buy now before Trump’s tariffs kick in

CNN  

New York CNN — During this busy holiday shopping season, some bargain hunters may be wondering if this is the ideal time to stock up on items before they could cost a lot more. But a 10% across-the-board import tariff, plus the additional 60% on Chinese goods, could cause the price of a new smartphone to rise by 26% to …

Trump's tariff war could cost Americans more than $3,200 a year, experts claim
1 month, 1 week ago

Trump's tariff war could cost Americans more than $3,200 a year, experts claim

Daily Mail  

American consumers would bear the brunt of Donald Trump's proposed tariffs, new analysis showed on Tuesday night as the world braced for a new era of U.S. protectionist policies. Trump proposed tariffs including the threats made to China, Mexico and Canada on Monday could lead to an increase in costs for every consumer annually, analysis found But even before the …

Trump's threat to impose tariffs could raise prices for consumers, colliding with promise for relief
1 month, 1 week ago

Trump's threat to impose tariffs could raise prices for consumers, colliding with promise for relief

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. For instance, the Produce Distributors Association, a Washington trade …

Trump’s threat to impose tariffs could raise prices for consumers, colliding with promise for relief
1 month, 1 week ago

Trump’s threat to impose tariffs could raise prices for consumers, colliding with promise for relief

Associated Press  

DETROIT — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. For instance, the Produce Distributors Association, a Washington trade group, said Tuesday that tariffs will raise prices for fresh …

Trump’s proposed tariffs could bring higher prices for groceries, cars and clothing
1 month, 2 weeks ago

Trump’s proposed tariffs could bring higher prices for groceries, cars and clothing

LA Times  

A customer shops for groceries in January in Wheeling, Ill. Prices for consumer goods could rise across the board if new tariffs are imposed once President-elect Donald Trump takes office next year. “If we get tariffs, we will pass those tariff costs back to the consumer,” Phil Daniele, chief executive of AutoZone, said in the company’s most recent earnings call. …

Walmart And Lowe's Warn That Trump's Tariffs May Cause Price Hikes
1 month, 2 weeks ago

Walmart And Lowe's Warn That Trump's Tariffs May Cause Price Hikes

Huff Post  

LOADING ERROR LOADING The vast tariffs President-elect Donald Trump has promised to implement will likely lead to price increases at major American retailers like Walmart and Lowe’s, the companies’ chief financial officers said this week. But there probably will be cases where prices will go up for consumers.” The company confirmed Rainey’s take in a statement given to Reuters: “We’re …

Consumers to bear brunt of US tariffs
1 month, 3 weeks ago

Consumers to bear brunt of US tariffs

China Daily  

Retailers concerned over prospects of Trump's levy plans, observers say US retailers are creating contingency plans to deal with the prospect of President-elect Donald Trump's proposed tariffs as he heads back to the White House. Under Trump's plan, US citizens could lose between $46 billion and $78 billion in spending power per year on products like clothing, toys, furniture, appliances …

Consumers to bear brunt of US tariffs
Top News
1 month, 3 weeks ago

Consumers to bear brunt of US tariffs

China Daily  

US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024. Under Trump's plan, US citizens could lose between $46 billion and $78 billion in spending power per year on products like clothing, toys, furniture, appliances and travel goods, the National Retail Federation said. Tiffany Smith, vice-president of …

Consumers to bear brunt of US tariffs
Top News
1 month, 3 weeks ago

Consumers to bear brunt of US tariffs

China Daily  

US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024. Under Trump's plan, US citizens could lose between $46 billion and $78 billion in spending power per year on products like clothing, toys, furniture, appliances and travel goods, the National Retail Federation said. Tiffany Smith, vice-president of …

Consumers to bear brunt of US tariffs
Top News
1 month, 3 weeks ago

Consumers to bear brunt of US tariffs

China Daily  

By BELINDA ROBINSON in New York | China Daily | Updated: 2024-11-18 09:21 US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024. Under Trump's plan, US citizens could lose between $46 billion and $78 billion in spending power per year on products like clothing, toys, furniture, …

Consumers to bear brunt of US tariffs
Top News
1 month, 3 weeks ago

Consumers to bear brunt of US tariffs

China Daily  

By BELINDA ROBINSON in New York | China Daily | Updated: 2024-11-18 09:21 US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024. Under Trump's plan, US citizens could lose between $46 billion and $78 billion in spending power per year on products like clothing, toys, furniture, …

Companies have a playbook for tariffs under Trump. It includes price increases.
2 months ago

Companies have a playbook for tariffs under Trump. It includes price increases.

Live Mint  

Companies are weighing possible price increases in response to any new tariffs proposed under the incoming Trump administration, a step that some finance chiefs say they’re wary of taking as customers feel the strain of inflation. Many big companies have a playbook for handling tariffs after navigating Trump’s first term in office, when he targeted imports from China and aluminum …

Retailers are already preparing for Trump’s tariffs that threaten to upend the economy
2 months ago

Retailers are already preparing for Trump’s tariffs that threaten to upend the economy

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The adoption of across-the-board tariffs on consumer goods and other non-strategic imports amounts to …

'Bear the burden': CEOs warn major price hikes already planned to offset Trump tariffs
2 months, 1 week ago

'Bear the burden': CEOs warn major price hikes already planned to offset Trump tariffs

Raw Story  

A slew of businesses across the U.S. say they're preparing to spike prices should former President Donald Trump regain the White House in 2025, the Washington Post reported Wednesday. While Trump claimed foreign companies will pay the tariffs, the U.S. Customs and Border Protection agency demands American purchasers pay when their products enter the country, according to the Post. “We …

"Misleading": Trump touts tariffs as miracle cure-all — but Americans stand to lose the most
3 months, 2 weeks ago

"Misleading": Trump touts tariffs as miracle cure-all — but Americans stand to lose the most

Salon  

As ghosts and monsters prepare to strike this Halloween, Americans might find that what haunts them most are not the ghouls at the door—it's the price tags at the store. As stubborn inflation has eased, former President Donald Trump and President Joe Biden may spook Americans all over again by slapping tariffs on pretty much everything that dares cross U.S. …

Decoding Trump's 10% tariff plan
11 months, 2 weeks ago

Decoding Trump's 10% tariff plan

China Daily  

Former US president Donald Trump speaks at a caucus site in Clive, Iowa, the United States, Jan 15, 2024. This bold, protectionist move, aiming to boost American manufacturing, could have profound implications for the US economy, disrupt global trade, and add a new dimension to the already complex and tense US-China relationship. As the world's largest economy running the world's …

Decoding Trump's 10% tariff plan
11 months, 2 weeks ago

Decoding Trump's 10% tariff plan

China Daily  

Former US president Donald Trump speaks at a caucus site in Clive, Iowa, the United States, Jan 15, 2024. This bold, protectionist move, aiming to boost American manufacturing, could have profound implications for the US economy, disrupt global trade, and add a new dimension to the already complex and tense US-China relationship. As the world's largest economy running the world's …

Despite higher prices, US consumers keep spending up a storm
3 years, 1 month ago

Despite higher prices, US consumers keep spending up a storm

Al Jazeera  

Inflation in the United States may have surged to a 30-year high in October, but that didn’t stop consumers from spending up a storm last month as Americans got a jump start on the holiday shopping season. Sales at retail stores, online and at restaurants in the world’s largest economy increased 1.7 percent in October compared to the previous month, …

US delays retaliatory tariffs in response to China’s gesture
5 years, 3 months ago

US delays retaliatory tariffs in response to China’s gesture

Live Mint  

The US and China have stepped up goodwill gestures by postponing retaliatory tariff-related actions ahead of their crucial 13th round of trade talks in Washington next month. Although the 16 products do not include major US agricultural products like soybean that are causing an uproar among American farmers, President Donald Trump repeatedly termed Beijing’s decision as a “big move”. In …

In escalating trade war, US consumers may see higher prices
5 years, 4 months ago

In escalating trade war, US consumers may see higher prices

Associated Press  

WASHINGTON — The United States and China on Sunday put in place their latest tariff increases on each other’s goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday shopping season. “But we can’t allow China to rip us off anymore as a country.” The 15% U.S. taxes apply to about …

Donald Trump heaps more tariffs on China, still no deal in sight
5 years, 4 months ago

Donald Trump heaps more tariffs on China, still no deal in sight

Live Mint  

Washington, Columbus: The Trump administration slapped tariffs on roughly $110 billion in Chinese imports on Sunday, marking the latest escalation in a trade war that’s inflicting damage across the world economy. Face-to-face talks between Chinese and American trade negotiators scheduled for Washington in September are still happening “as of now,” Trump told reporters Friday before going to Camp David, the …

Latest Trump tariffs could hit consumers with higher prices
5 years, 4 months ago

Latest Trump tariffs could hit consumers with higher prices

Associated Press  

WASHINGTON — President Donald Trump’s latest round of tariffs on Chinese imports is likely to deliver a direct hit on many consumers, who were largely spared from higher prices in his previous rounds of import taxes. For the first time since Trump launched his trade war, American households face price increases because many U.S. companies say they’ll be forced to …

A fresh round of Trump tariffs is about to hit store shelves
5 years, 4 months ago

A fresh round of Trump tariffs is about to hit store shelves

LA Times  

The U.S. flag flies over a container ship unloading its cargo from Asia at the Port of Long Beach. For the first time since Trump launched his trade war, American households face price increases because many U.S. companies say they’ll be forced to pass on to customers the higher prices they’ll pay on Chinese imports. For more than a year, …

Thanks to consumers, US economy is rising steadily if slowly
5 years, 4 months ago

Thanks to consumers, US economy is rising steadily if slowly

Associated Press  

WASHINGTON — The U.S. economy slowed in the spring, and most analysts expect it to weaken further in the months ahead. The nation’s gross domestic product — the broadest gauge of economic health — grew at a moderate 2% annual rate in the April-June quarter, the Commerce Department reported Thursday. But most think consumer spending will be enough to offset …

Trump raises tariffs on Chinese goods as trade war escalates
5 years, 4 months ago

Trump raises tariffs on Chinese goods as trade war escalates

Associated Press  

WASHINGTON — Escalating his trade fight with China, President Donald Trump has raised retaliatory tariffs and ordered American companies to consider alternatives to doing business there. The Office of the U.S. Trade Representative also said existing tariffs on another $250 billion in Chinese imports would go from 25% to 30% on Oct. 1 after receiving feedback from the public. People …

Donald Trump delays 10% tariffs on Chinese cellphones, laptops, toys; markets jump as relief for retailers, technology groups
5 years, 4 months ago

Donald Trump delays 10% tariffs on Chinese cellphones, laptops, toys; markets jump as relief for retailers, technology groups

Firstpost  

Donald Trump on Tuesday backed off his 1 September deadline for 10 percent tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods Washington: US President Donald Trump on Tuesday backed off his 1 September deadline for 10 percent tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, in the hopes …

Trump delays tariffs on some Chinese goods until December
5 years, 4 months ago

Trump delays tariffs on some Chinese goods until December

Associated Press  

WASHINGTON — Responding to pressure from businesses and growing fears that a trade war is threatening the U.S. economy, the Trump administration is delaying most of the import taxes it planned to impose on Chinese goods and is dropping others altogether. But under pressure from retailers and other businesses, President Donald Trump’s trade office said it would delay until Dec. …

US consumers could face brunt of tariff hikes
5 years, 7 months ago

US consumers could face brunt of tariff hikes

China Daily  

Workers stock the shelves at a Home Depot store in Passaic, New Jersey, the United States, Aug 14, 2018, file photo. Retailers fear US President Donald Trump's proposal to impose a new round of tariffs on Chinese products will raise prices for consumers, depress sales and disrupt the global supply chain. Matthew Shay, CEO of the National Retail Federation, said …

Consumers are already seeing price hikes from the last round of Trump’s tariffs
5 years, 7 months ago

Consumers are already seeing price hikes from the last round of Trump’s tariffs

LA Times  

Consumer prices on luggage and major appliances have already increased as a result of previous tariffs. And trade groups and economic studies show that U.S. consumers already are seeing higher prices on a range of items — luggage and major appliances such as washing machines, for instance — that were subject to previous tit-for-tat tariffs in the U.S.’ escalating trade …

AP Explains: New China tariffs likely to hit US consumers
5 years, 7 months ago

AP Explains: New China tariffs likely to hit US consumers

Associated Press  

WASHINGTON — With the Trump administration more than doubling tariffs on billions of dollars of Chinese imports, will Americans soon see higher prices on store shelves? Including the China tariffs as well as other duties Trump has imposed on items such as steel, American businesses and consumers were paying $3 billion a month in higher import taxes by the end …

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