The National Retail Foundation reported on Friday that despite a new round of tariffs, imports are expected to continue at near-record levels for the remainder of the year.
President Trump has indicated that the next round of talks between the US and China maybe cancelled. This doesn’t bode well for hopes of a de-escalation of the trade war.
Vietnamese businesses are worried their new found manufacturing boom will be the next target of Trump’s tariffs. Vienamese authorities are also starting to crack down on transshipment, as an influx of Chinese investment rolls into the country.
Toys ‘R’ Us CEO Jerry Storch says tariffs won’t impact consumers. Storch said capitalism is pretty adaptive, and thinks retailers and manufacturers will figure it out.