Trump China tariffs could cost billions for consumers: retailer study [Reuters]
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Source: Reuters
Trump China tariffs could cost billions for consumers: retailer study - Reuters 2 Min Read (Reuters) - If the United States does impose tariffs on another $300 billion worth of Chinese goods, it would cost U.S. consumers $12.2 billion more for apparel, footwear, toys and household appliances each year, the National Retail Federation (NRF) said on Friday. The tariffs would result in consumers paying 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
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