Trump's New Tariffs 'Will Impact Retailers', Analyst Warns
US President Donald Trump's decision to introduce 10% tariffs on a further $200 billion worth of imports from China is likely to impact retailers, and ultimately the consumer, according to a retail analyst.
Commenting on the new tariffs, Neil Saunders, managing director of GlobalData Retail, said that the new legislation is "bad news" for the retail sector, "especially as the latest round seems to extend the tax to a vast array of consumer goods.
"Many retailers will now be faced with a difficult choice of whether to pass the cost increases across to consumers or to take a hit on their margins. The exact response will vary from retailer to retailer but, in our view, both strategies are likely to be used."
China has vowed to retaliate against Trump's actions, however the US President has threatened duties on a further $267 billion of imports, in what has been dubbed a 'phase three' of actions against the Asian country.
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