Many retailers are using the threat of a potential tariff war to urge their customers to “buy now” before President-elect Donald Trump’s proposed tariffs go into effect.
While Black Friday sales have become an American staple the past half century, the newly floated “pre-Trump tariff sales” might have an even greater impact on retailers’ bottom line. Both large and small business have told their customers to take advantage of current prices, because they won’t last if a global tariff war takes hold.
On Monday, Trump threatened to impose sweeping new tariffs on Mexico, Canada, and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. He said he would impose a 25% tax on all products entering the country from Canada and Mexico and an additional 10% tariff on goods from China as one of his first executive orders.
Read more at Newsmax© 2024 Newsmax. All rights reserved.
