[ad_1]
In the United States, tariffs have gone from 10% on $ 200 billion worth of Chinese goods to 25%, including for goods that most US buyers buy for their home, such as furniture and electronics.
has threatened to raise tariffs by 25% on 325 billion dollars of Chinese goods not yet taxed, after Friday's rise. And this list of products includes clothes, toys and shoes. If implemented, this increase would pose a much greater threat to many other retailers, analysts said.
This could have repercussions on the manufacturers of sports shoes, including Nike and Under Armor. The United States imported $ 11.4 billion worth of shoes from China in 2018, according to the US Census Bureau.
A study shows that the consequences for consumers could be even worse and cost hundreds of dollars to a single family.
Walmart, the world's largest retailer, said in a letter to US Trade Representative Robert Lighthizer last fall that a 25 percent increase in tariffs was being considered by the Trump administration at the time. would be a "heavy burden" for income families. "Either consumers will pay more, suppliers will receive less, retail margins will be lower, or consumers will buy fewer products or give up their purchases," Walmart said.
Walmart and Home Depot declined to comment on the latest set of rates.
According to a report by the Trade Partnership, the 25% customs duty on Chinese goods worth $ 200 billion will cost the average American family of four $ 767.
"Rate increases and new rates will result in higher costs for US companies, higher prices for US consumers and jobs lost for many US workers," said the vice president of the US-based channel. Supply and Customs of the National Retail Federation, Jonathan Gold.
"We encourage the administration to stay focused on a trade agreement and we hope negotiations will resume," he said. "It would be unfortunate to undermine progress with higher tariffs, which only punish Americans."
Many retailers, including Home Depot, Lowe's, Best Buy and Walmart, are poised to release their quarterly results in the coming weeks. Analysts will certainly ask the management teams how to handle the new rates and the threat of upside.
– CNBC
Michael Bloom
contributed to these reports.
[ad_2]
Source link