Retail

A hallmark of President-elect Donald Trump’s reelection campaign was a proposed increase in tariffs on goods coming into the United States. He proposed an increase of 10% to 20% on all foreign countries, with an additional 60% to 100% tariff on imported products from China. The National Retail Federation (NRF) commissioned a study to determine how increased tariffs will impact the cost of imported goods in six categories: Clothing, footwear, toys, furniture, household appliances, and travel goods. The study found that American consumers could lose between $46 billion and $78

In April 2024, Club Car announced an $8 million investment in Columbia County for a street-legal utility vehicle called the Urban LSV. Now, the company, as part of the American Personal Transportation Vehicle Manufacturers Coalition, has filed critical circumstances allegations with the U.S. Department of Commerce, to address a massive increase in Chinese imports of low-speed personal transportation vehicles (LSPTVs). The Coalition seeks tariffs and duties on LSPTV products sold below market value and with the assistance of improper foreign government subsidies. Duties would be levied on any imports after

An industry group has released its predictions for retail spending through the upcoming holiday season. The National Retail Federation (NRF) is predicting a steady growth in sales through November and December. It defines the holiday season as Nov. 1 through Dec. 31, six days shorter than the 2023 holiday period. ABD sat in on a virtual briefing NRF provided for reporters on Tuesday. It included NRF President and CEO, Matthew Shay, and NRF Chief Economist, Jack Kleinhenz. NRF predicts winter holiday spending will increase between 2.5% and 3.5% over last