Retail stocks hit by Trump’s new tariffs
August 2, 2019
Retailers have long argued that tariffs imposed by the Trump administration on goods imported by China and elsewhere amount to a tax on American consumers. While Mr. Trump continues to ignore counsel from retailers, his escalation of a trade war with China is having a direct impact on the industry and stock prices. The S&P Retail ETF index fell three percent after Mr. Trump announced plans to put a 10 percent tariff on $300 billion on additional goods imported from China, effective Sept. 1.
Recent News
Viking Cruise Line Stocks Surge 10% on Market Debut
Viking, a cruise line renowned for its upscale voyages targeting affluent baby boomers, made a splash on the New York Stock Exchange today under the ticker symbol “VIK.”
Sam’s Club Innovates Customer Experience With AI Exit Tech
Sam’s Club has rolled out AI-powered exit technology at over 120 locations, marking a significant advancement in retail customer service.
McDonald’s Promises Bigger Burgers Amidst Mixed Q1 Results
McDonald’s has been making changes to its menu options since the beginning of the quarter.
Bulk Organic Walnuts Sold at Whole Foods Recalled Due to E. Coli Outbreak
The walnuts, sold in several states across Whole Foods and other markets, have sickened 12 people so far.