Trump China tariffs could cost billions for consumers: NRF study [Reuters]
JC PENNEY (JCP)
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Source: Reuters
Trump China tariffs could cost billions for consumers: NRF study (Reuters) - If the United States were to impose tariffs on another $300 billion worth of Chinese goods, it would cost U.S. consumers $12.2 billion more for their apparels, footwear, toys, and household appliances, the National Retail Federation (NRF) said on Friday. If the proposed tariffs are imposed, consumers would have to pay another $4.4 billion on apparel, $2.5 billion on footwear, $3.7 billion for toys and $1.6 billion for household appliances, the retail trade group said based on a study it had commissioned. “It would be impossible for all market participants in our industry to simultaneously move sourcing to other countries. The capacity does not exist...,” David French, NRF’s senior vice president of government relations, said in a statement. “In the short term, retailers would be forced to continue to use Chinese suppliers and pass on higher costs to their customers.” Many retailers including J.C. Penney Co an
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