U.S. retailers will be front and center on Wall Street next week as the United S...
SAN FRANCISCO - U.S. retailers will be front and center on Wall Street next week as the United States imposes new tariffs on $300 billion worth of Chinese imports, including clothing, televisions and jewelry.
The upcoming tariffs on Chinese goods will hit consumers more directly than duties already levied against $250 billion worth of imports. Retailers are scrambling to cut costs and find ways to minimize the damage to their bottom lines, while Wall Street analysts try to identify those best positioned to weather the taxes.
The U.S. government is set impose tariffs on the newest list of products starting Sept. 1, with tariffs on about half of those goods delayed until Dec. 15 in a bid to soften their impact on holiday shoppers. President Donald Trump last week upped the tariffs to 15% from an originally planned 10%. Trump’s aggressive stance and often mixed signals in his trade war with China have taken a toll across Wall Street in recent weeks, especially on the shares of companies that rely heavily on the world’s second-largest economy.
Wall Street rallied on Thursday after China's commerce ministry said both sides were discussing the next round of talks. Still, since Aug. 1, when Trump announced the September tariffs, the SPDR S&P Retail ETF (
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