America should see a continued surge in imports through next spring as the threat of port strikes and higher tariffs loom, the“The window to frontload goods on vessels arriving before a potential strike is quickly closing,” the founder of advisory firm Hackett Associates said in a news release from the NRF.“Then there are issues as President-elect Trump promises to increase tariffs when he takes office,” Ben Hackett continued in the NRF news release.
"But America just doesn't have the manufacturing base to fulfill that full $3.1 trillion of stuff that we all keep buying," Knightley said Nov. 26. "So, there's inevitably going to be a cost-of-living erosion here or, a cost-of-living hit, spending power erosion."Clothing store owner Danny Reynolds is bracing for the potential of port strikes or higher tariffs.And they’ve grown very reliant on imports over the years, he said.
“How much of this can we absorb? Is there an amount that the vendor can hopefully absorb? Because what we really can't do is pass it on to the consumer,” he said. “I feel like today's consumers are pretty strained as it is.” Knightley and Colin Grabow, an expert in trade policy at the Cato Institute, both previously said there’s good reason to believe Trump’s tariffs are more of a political negotiating tactic than a set-in-stone policy.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dcexaminer - 🏆 6. / 94 Read more »
Source: AP - 🏆 728. / 51 Read more »
Source: wsfa12news - 🏆 338. / 59 Read more »