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Despite US-China trade tensions, retail sector could rebound

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Walmart, Macy’s and J.C. Penney are among the retailers set to report their second-quarter earnings this week.

But with the burden of the trade war, many investors are skeptical. President Donald Trump’s announcement that the U.S. is putting 10% tariffs on an additional $300 billion worth of Chinese goods, effective Sept. 1, could hammer the retail sector. On Tuesday, the administration delayed some of those tariffs on some electronics and clothing to Dec. 15, but that doesn’t mean the sector is out of the woods yet.

“The list of products these tariffs will hit are almost entirely consumer-oriented,” said the Retail Industry Leaders Association in a statement. “This new 10% tariff on…



Source cnbc.com

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