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Retail Stocks Rise as the President Delays Tariffs

retail industry
Photo Credit: Jim via Flickr cc

In order to soften the blow to consumers and retailers, President Donald Trump announced that the proposed tariffs on certain Chinese goods would be delayed until December 15. This way, any damaging effects of the tariffs, such as a hit to retailers’ profits or a rise in prices, will be delayed until after the crucial Christmas shopping season.

“We’re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers,” Trump told reporters.

Read the full story at CNBC.