Jeff Gennette, CEO of Macy’s.
Tariffs of 10% on roughly $300 billion worth of goods imported to the U.S. from China were set to go into effect on Sept. 1, forcing apparel and footwear retailers to scramble ahead of the holiday season.
But President Donald Trump on Tuesday said his administration would be delaying China tariffs for some goods until Dec. 15. The United States Trade Representative office said the delay is for electronics including cellphones, laptops and video game consoles and some clothing products and shoes and “certain toys.” “We’re doing this for the Christmas season,” Trump said.
Still, companies like Macy’s aren’t in the clear. They’re now having to figure out how they will work around the 10% taxes without passing too much of the costs onto consumers.
If prices were to increase at…