MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
By Nelson D. Schwartz & Sapna Maheshwari @ NYTimes.com, Business, June 16
Already battered by the e-commerce revolution, traditional retail stores are bracing for another blow — new tariffs on $300 billion worth of Chinese imports that the Trump administration is threatening to impose.
Retailers and analysts warn the impact will be disastrous for an industry already tormented by vacant storefronts and deserted malls. The reason: Unlike earlier tariffs that mostly targeted industrial and commercial products, the next round is aimed squarely at consumer goods like footwear, toys and apparel.
Even for healthy chains, like Walmart and Costco, the new duties threaten the business formula that helped speed their rapid rise over the last few decades: Import cheap products from Asia and sell them at rock-bottom prices. The National Retail Federation estimates that China supplies 42 percent of all apparel, 73 percent of household appliances and 88 percent of toys sold in the United States [....]