Source: United States & Canada – South China Morning PostUS President Donald Trump’s tariffs on Chinese imports are biting into the income of some American retail-focused companies, with at least two already in bankruptcy court and others forecasting significant losses.
Exporters were shouldering a relatively small share of duties on goods sent from China to the US, leaving American firms to absorb the remaining costs or pass them on to consumers, according to minutes from the Federal Open Market Committee’s meeting on July 29-30, citing the views of…Read More