The retail sector is facing significant declines as President Trump’s tougher tariff plan takes effect, according to Benzinga. Many retailers and brands that manufacture goods in China and Vietnam face tariff rates of up to 50%. S&P Global analysts warned that price increases would be harder to pass on to consumers due to ongoing inflation and a weak consumer environment, according to The Street. Footwear brands Nike and Deckers Outdoor experienced stock drops, while Lululemon could face a significant margin hit. Best Buy's stock was headed for its worst day since 2020, impacted by its reliance on imports from China and Mexico.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The retail sector is facing significant declines as President Trump's tougher tariff plan takes
00:07effect. According to Benzinga, many retailers and brands that manufacture goods in China and
00:11Vietnam are facing tariff rates up to 50 percent. S&P Global analysts warned that the price increases
00:18would be harder to pass on to consumers due to ongoing inflation and weak consumer environment,
00:23according to the Street. Footwear brands Nike and Decker's outdoor experience stopped drops
00:29while Lululemon could face a significant margin hit. Best Buy stock was headed for
00:33its worst day since 2020, impacted by its reliance on imports from China and Mexico.
00:39For all things money, visit Benzinga.com slash GSTV.