President Trump has followed through with his plans for levying import tariffs of 25% on goods from Mexico and Canada and adding an additional 10% for a cumulate addition of 20% tariffs on Chinese imports. The reasons are attributed to curbing the inflows of fentanyl across borders, boosting American manufacturing national security and balancing trade deficits. The retail/wholesale sector appears to be particularly exposed to tariffs.
Let’s take a look at what CEOs of leading retailers are saying about import tariffs and their impacts and ways to mitigate them.
