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https://money.cnn.com/2018/09/19/news/companies/walmart-tariffs-trump-china/index.html
Two weeks ago, Walmart asked the Trump administration to walk back its plan to put tariffs on Christmas lights, shampoo, dog food, luggage, mattresses, handbags, backpacks, vacuum cleaners, bicycles, cooking grills, cable cords and air conditioners.
In a letter to US Trade Representative Robert Lighthizer, the company said expanded tariffs on Chinese imports would hurt its customers, its suppliers and the US economy.
Other retailers and consumer goods companies, including Ace Hardware and Joann fabric and craft stores, also lobbied the administration.
Target (TGT) said the tariffs will "hurt American consumers," and said working families will pay more for school and college essentials like notebooks, calculators, binders and desks.
I can't take all of this winning. I do find it hysterical that Trump has convinced his base that he's the "working class president" for the little guy. :lol:Target and Walmart will now face a tough choice: They can absorb the higher costs from tariffs by taking a hit to their profit margins, or they can pass some of the price increases on to their customers.
"Either consumers will pay more, suppliers will receive less, retail margins will be lower, or consumers will buy fewer products or forego purchases altogether," Walmart warned in its letter.
The National Retail Federation, a trade group, estimated that a 25% tariff on furniture would cost Americans $4.5 billion more per year, while a 25% levy on travel items like luggage and handbags would cost an additional $1.2 billion.
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