Trump's proposed tariffs could raise prices for consumers and slow spending
Publishing timestamp: 2024-11-06 20:21:44
Summary
Retail analysts warn that President-elect Donald Trump's proposed tariff policy could lead to higher prices for consumers. Companies with exposure to China, such as Five Below and E.l.f. Beauty, may be forced to raise prices or take profit cuts. The tariffs could result in double-digit price spikes in various retail categories, leading to inflation and job losses. Retailers are likely to pass on the increased costs to consumers, resulting in softer spending from price-conscious shoppers. Companies like Yeti Holdings and E.l.f. Beauty have been diversifying their supply chains to reduce reliance on China. Overall, the tariffs could lead to higher prices on a wide range of products, from clothing to beer, impacting consumers.
Sentiment: NEGATIVE
Tickers: WMT, SKX, BBWI, DLTR, DEO, YETI, BAC, MDLZ, AEO, FIVE, AZO, STZ, CROX, UNDEFINED, NKE,
Keywords: breaking news: business, philip daniele, business news, retail industry, economy, inflation, bath & body works inc, nike inc, business, skechers usa inc, donald trump, crocs inc, constellation brands inc, china, autozone inc, breaking news: economy, bank of america corp, mondelez international inc, tarang amin, yeti holdings inc, diageo plc, walmart inc, elf beauty inc, dollar tree inc, amer sports inc, american eagle outfitters inc, five below inc, mexico, trade,
Source: https://www.cnbc.com/2024/11/06/trump-proposed-tariffs-consumer-prices.html