U.S. retailers blast new China tariffs, say move will raise prices further, hurt jobs

[Judi Lynn]

Source: Reuters

AUGUST 1, 2019 / 2:37 PM / UPDATED 7 HOURS AGO

Andrea Shalal, Nandita Bose
3 MIN READ

By Andrea Shalal and Nandita Bose

WASHINGTON (Reuters) - President Donald Trump’s threat to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1 will hurt consumer purchases, raise prices further and limit hiring, four large retail trade groups warned on Thursday.

Trump on Thursday moved to impose fresh tariffs after U.S. and Chinese negotiators failed to kick-start trade talks between the world’s two largest economies.

The National Retail Federation, which counts Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O) among its members, called the decision to impose new tariffs a flawed strategy that will hurt American consumers.

“We are disappointed the administration is doubling-down on a flawed tariff strategy that is already slowing U.S. economic growth, creating uncertainty and discouraging investment,” Senior Vice President for Government Relations David French said in a statement.


Read more: https://www.reuters.com/article/us-trade-china-retailers/u-s-retailers-blast-new-china-tariffs-say-move-will-raise-prices-further-hurt-jobs-idUSKCN1UR5KF

[democratisphere]

1. Bankruptcy Don the Con strikes again.

[Control-Z]

2. I honestly believe that the maggot's current orders

are to destroy the US economy in every way he can. Seriously.

[kysrsoze]

5. I completely agree. Marching orders - destroy the U.S.

[kimbutgar]

3. Amazon is killing the retail industry and fat Donnie is finishing it off with these tariffs

The retailer profit margins are getting smaller. Wall Street going to be upset the retailer can’t make the quarterly numbers because of fat Donnie’s retaliatory tariffs against the countries who won’t kiss his ass.

[Sherman A1]

10. There is a lot more going on than just amazon and the tariffs in the Retail Sector

But neither of them are helpful to the current and coming debacle.

[Fullduplexxx]

4. His job is to ruin america

[RainCaster]

6. There will be a new tax on your next iPhone

Ten percent, folks.

[Judi Lynn]

7. Bad news, absolutely. Thanks, Orange "The Donald." n/t

[KY_EnviroGuy]

8. Driving more brick-and-mortars out of business.

Maybe that's what the plutocrats want. With most everything sold over the internet, sales margins go up with lower overhead.

Trump's cabinet is driving the U.S. toward recession and with sky-high personal debt levels, externals like Brexit and a looming Iran conflict, it could be a doozy.

KY.......

[rpannier]

9. What happened to the negotiations are going great

and a huge deal is coming soon

He's said that about 50 times