The latest tariffs on Chinese goods kick in Sunday, involving a broad range of consumer goods.
Worries of downturn prompt President Trump to hammer the Fed and consider tax cuts.
Still, the prices of certain goods will cost Americans more. Trump tacitly acknowledged this a few weeks ago by announcing a delay in his higher tariffs on $160 billion in imports until Dec. 15 — to keep them from squeezing holiday shoppers. Retailers, engaged for a battle for survival with Amazon and other e-commerce rivals, are bracing for the worst. Macy’s raised an alarm when it reported earnings in August: In May, Trump had raised separate tariffs on $250 billion in Chinese goods to 25% from 10% . In response, Macy’s tried to raise prices of some items on the hit list — luggage, housewares, furniture. But according to CEO Jeff Gennette, customers just said no.
“I will try to keep the prices down for as long as I can,” Chow said. “But at some point, when the tariffs are just too much, we have to eventually raise the prices, and then it goes down to the end user — the customer.”
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