In this week's Retail Right Now, Joe Keenan offers insight into the retail industry's response to President Trump's State of the Union Address this week. Both the National Retail Federation (NRF) and the Retail Industry Leaders Association (RILA) issued press releases regarding the president’s comments on trade and a potential resolution with China. Unless a new trade deal is reached with China prior to March 1, tariffs on Chinese goods will jump from 10 percent to 25 percent.
Trump has been optimistic in recent weeks that a new trade deal with China will be reached before the deadline, and alluded to that fact in his State of the Union address, saying: "We are now working on a new trade deal with China. But it must include real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs."
We’d love to get your thoughts on this critical issue and how it potentially impacts your business. Leave a comment below.