Retail stocks hit by Trump’s new tariffs
August 2, 2019
Retailers have long argued that tariffs imposed by the Trump administration on goods imported by China and elsewhere amount to a tax on American consumers. While Mr. Trump continues to ignore counsel from retailers, his escalation of a trade war with China is having a direct impact on the industry and stock prices. The S&P Retail ETF index fell three percent after Mr. Trump announced plans to put a 10 percent tariff on $300 billion on additional goods imported from China, effective Sept. 1.
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