Retailers wrestle with a volatile trade policy with China
NEW YORK (AP) — Retailers and consumer product makers may have received reprieve after the Trump administration delayed until Dec. 15 a 10% tariff on some consumer products.
But trying to run a business when trade policy continues to shift almost daily is difficult and many say they’re devoting so much time adjusting to each whim that they can’t focus on other areas like innovation.
Items targeted for tariffs pop up on one list, only to be dropped months later or vice versa. Meanwhile, businesses must change their supply network modeling as often as weekly instead of semi-annually or annually.
President Donald Trump has already imposed 25% tariffs on $250 billion in Chinese imports. The 10% tariffs on about another $300 billion would extend import taxes to just about everything China ships to the United States.