NBC News - President Donald Trump’s tariffs first sent stocks on a chaotic ride of steep losses and rallies. Now, retailers are warning that his trade policy is poised to cause pandemic-era product shortages that could see empty shelves at major retailers.
Experts say lower-cost footwear, apparel and toys could be the first items to go missing from store shelves in the coming months. Companies have been canceling their shipments of goods from China and halting new orders after Trump put a 145% tariff on nearly all Chinese imports this month, meaning Americans could find far fewer options during back-to-school and holiday shopping than they are used to.
“If the administration waits to resolve the problem until we have shortages and hoarding, that is just too late,” Sean Stein, president of the U.S.-China Business Council, said. Trump said this week that the U.S. and China were in talks to negotiate, but a Chinese foreign ministry spokesperson refuted the claim, saying that both countries haven’t “engaged in any consultations … let alone reached an agreement.”
For companies that can’t shell out to pay the tariffs, their goods will
likely sit at U.S. ports until they can be auctioned off.
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