Price Hikes From Rising Tariffs Loom Ahead of Busy Shopping Seasons
Major retailers are sounding the alarm: The U.S.-China trade battle could be coming to a mall near you in the form of higher prices in time for the back-to-school and holiday shopping seasons.
President Trump is threatening to levy 25% tariffs on about $300 billion worth of Chinese imported goods that include clothing, shoes, household items, mobile phones, bedspreads, toys, sporting goods and school supplies such as calendars, pens and pencils.
If he follows through, the tariffs probably would take effect in late June or July, and American consumers would see higher prices on many of those Chinese imports in the following weeks, according to retailers, analysts and trade associations.
“We’re going to do everything we can to keep prices low” but “increased tariffs will lead to increased prices, we believe, for our customers,” Brett Biggs, chief financial officer of Walmart Inc., the nation’s largest retailer, told reporters last week.
Read the full story on LATimes.com.