Retail News

Analyst: Trump’s tariff timing ‘could not be worse for retailers’

Yahoo Finance 08/04/2019

Many retailers are in the process of shifting production of goods away from China to other Asian nations such as Vietnam. President Trump’s announcement last week that the U.S. would impose an additional tariff of 10 percent on Sept. 1 to cover the remaining $300 billion worth of goods imported from China makes it virtually impossible for many retailers and brands to move remaining production to other places in time for the fourth quarter. “Given how crucial the fourth quarter is for retail…this timing could not be worse for the retailers. They can’t move quickly enough to move production. The goods are landing shortly for the Christmas and holiday season,” Bank of America retail analyst Lorraine Hutchinson told The Final Round.

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