Former Trump administration official Steve Moore admitted Tuesday that increased inflation from tariffs imposed by President Donald Trump “just isn’t showing up.” The Consumer Price Index rose 2.3% year-over-year in April, down from 2.4%in March, according to data from the Bureau of Labor Statistics. Moore said that his prior predictions that the duties would increase … Read More
Amazon.com Inc. Chief Executive Officer Andy Jassy said the online retailer hasn’t seen any meaningful reduction in consumer spending or an increase in prices as a result of tariffs introduced by US President Donald Trump earlier this year. “We’ve not seen any attenuation of demand at this point,” Jassy said Wednesday during Amazon’s annual shareholder … Read More
The remarks came as Target reported weaker-than-expected sales in its first quarter and cut its full-year forecast. The retailer, whose business hasn’t fared as well against rivals better known for bargain prices, has “many levers to use in mitigating the impact of tariffs,” Cornell said. Target has rolled out discounts over the past year to … Read More
The country’s largest home improvement chain weighed in during a call with investors about its earnings report, just days after Walmart drew President Trump’s ire with a warning that his sweeping import taxes are pushing the world’s largest retailer to increase its typically low prices. “We don’t see broad-based price increases for our customers at … Read More
Chinese exporters are offering lucrative deals to U.S. customers with promises of bearing the full burden of tariffs. Look beneath and there’s a web of illicit activity that’s propping up these shipments from China. By using the “delivered-duty-paid” shipping approach where sellers pay for all import duties, and by under-invoicing shipments, some Chinese sellers are … Read More
Trump’s demands thus far appear aimed at big companies and their significant profits — echoing former President Joe Biden’s populist “greedflation” mantra, which accused companies that raised prices of taking advantage of the inflation crisis throughout much of his term. “Walmart made “BILLIONS OF DOLLARS last year, far more than expected,” Trump posted on social … Read More
One major point of contention in the Japan-US negotiations has been the massive imbalance in car sales between the second and third biggest car-making countries in the world. Toyota alone sold over 2.3 million cars in the US last year, and around a quarter of those were imported from Japan. Conversely, the number of GM … Read More
Moreover, 38% of the marketers polled have already shifted sourcing/manufacturing or plan to do so in the next 12 months. And 52% are exploring such shifts, while 68% are adjusting their holiday-season marketing. Another 39% are pursuing “Made in USA” or local sourcing themes in their marketing. Read the article.
Walmart’s business in the United States remains strong, despite tariffs and recession fears, and the company may benefit from the trade war. “We are equipped to manage this as well or better than other retailers,” finance chief Rainey said on a call with analysts. Sales at stores open for at least a year grew 4.5% … Read More
Reuters is reporting that Kraft Heinz, maker of ketchup and Kool-Aid and Philadelphia cream cheese, is planning to invest $3 billion to upgrade its U.S. factories to help lower costs, partly due to tariffs. Kraft Heinz has 30 plants here, and grows its tomatoes in California and its potatoes in Idaho. In fact, Anderson said … Read More
