Retail Industry Relieved on Vietnam Tariffs

This is a Vietnam news story, published by CNBC, that relates primarily to Cosaro news.

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Vietnam tariffs

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Vietnam imports

CNBC

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Entertainment

How the retail industry is responding to Trump's trade deal with Vietnam

Summary

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71% Informative

Retail executives are relieved that tariffs on Vietnamese imports could be 20% instead of a previously proposed 46% .

Vietnam was the retail industry's backup plan after Trump hiked tariffs on China during his first term.

Vietnam is now the second largest supplier for footwear, apparel and accessories sold into the U.S. , according to the American Apparel & Footwear Association .

"There could be threats of a 46% tariff and you come back with 20 and it's going to sound better but it's just more money coming out of the consumers' pockets at the end of the day and they have less money to spend on picnic baskets and coolers and things like that," said Cosaro , who raised his prices between 11% and 14% earlier this year to offset the cost of China tariffs. "It's not good for the consumer. Ultimately, it's just increasing the prices I don't think that's good news.".

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semi-formal

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English

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not offensive

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not hateful