Major retailers are making changes behind-the-scenes to offset any costs from the Chinese tariffs, says ex-department store executive Jan Kniffen.
Trump has been threatening to place additional tariffs on another $300 billion worth of Chinese goods, essentially the rest of China's imports into the U.S., a move that would then hit the apparel stores.
"If you raised it high enough, you would finally start seeing some consumer impacts. And maybe 25% on everything is high enough," said Kniffen., likely have been making behind-the-scenes moves to ensure their customers aren't paying more for their everyday items, Kniffen said. "There are all kinds of opportunities to substitute," he said. "If you're well-capitalized, you're a winner because you can invest in the robots it takes to drive the costs down. If you are small, poorly capitalized, and narrowly focused on something that's about to get a tariff, you're toast."
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