Last week President Trump tweeted that on Sept 1st, 2019 the US will slap a 10% tariff on the $300 billion dollar of goods imported from China that have not been covered yet. This may have been the grinch that would steal Christmas for many US ecommerce sellers who imported their products from China.
This week, in a surprising about-face, the Trump administration announced it will delay the 10% tariff on a number of categories of products in the $300 billion package including toys, apparel, electronics, laptops, and more until December 15, 2019.
This means that many of the critical categories of imported products from China that consumers are craving for CHRISTMAS will not be affected.
Meanwhile talks continue to be planned between the US and Chinese counterparts.
You can find the exact list of products covered in the delay here.
Secondly, in a sign that e-commerce growth continues to outpace offline retail…
Bricks and mortar retailers Macy’s, Kohl’s, Dillards, and JC Penny stock prices plunge to the lowest prices 10 years amid “dismal earnings” as “more and more shoppers are steering clear of shopping malls and instead turning to online platforms like Amazon, Stitch Fix, Net-a-Porter and Gilt to shop.” according to CNBC.
I’m confident that if you’re an ecommerce seller or Amazon seller then you are on track to capitalize on this growth as retail continues to shift online and offline stores continue to be left out in the cold.
-Gary
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