In a move to address the coronavirus crisis, President Donald Trump has issued an executive order giving Treasury Secretary Steven Mnuchin the authority to defer certain tariff payments.
As if the tariffs on imported raw materials from China has not impacted the cookware industry enough in the past few years, there is a potential new tariff that could continue to impact the U.S. cookware market.
The last year saw the cookware industry plagued by the growing instability surrounding the tariffs implemented by the Trump Administration. However, there is belief among some vendors that 2020 will be the year manufacturers are able to move forward and the industry will right-side itself.
A strong economy has helped the housewares industry make new investments, despite continued uncertainty surrounding tariffs and cost pressures from the top and bottom. Many housewares suppliers in 2020 will be introducing new products that differentiate themselves from the competition, developing more ways to connect directly with consumers and continuing to fine-tune business operations.
After a year of fluctuations driven by the uncertainty of the trade dispute with China, volume at the nation’s major retail container ports is expected to return to its usual seasonal patterns during the first few months of 2020, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
The National Retail Federation and other associations welcomed news that the U.S. and China have agreed on a “phase one” trade deal, according to recent media reports.
Volume at the nation’s major container ports bumped up significantly in November as retailers imported merchandise ahead of new tariffs set to take effect this month, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Dollar Tree delivered a solid sales performance across both its namesake banner and the Family Dollar chain, although the retailer cautioned that the continuing effect of tariffs could impact its fourth quarter and fiscal year outlook.
Imports at the nation’s major cargo ports are expected to see one more boost in November before falling off in December and into the New Year, according to the National Retail Federation.
Imports at the nation’s major retail container ports are expected to hit their highest level of the year in November just before additional tariffs take effect in December, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates.
The National Retail Federation said it expects holiday retail sales during November and December to increase between 3.8% and 4.2% over 2018 to a total of between $727.9 billion and $730.7 billion.
Imports at the nation’s major retail container ports remained strong in August as retailers and product suppliers looked to beat a new wave of tariffs that took effect September 1.
The impact of tariffs on consumer purchase decisions will vary from product to product based on whether shoppers view an item as a necessity or a luxury, according to the results of a recent study by The NPD Group.