As a new tariff freeze from China comes into force, trade-dependent Washington rents will penalize more impact on the economy. (May 29)
Costco became the last dealer to say that the trade war between China and the United States is likely to lead to higher prices, but the team giant says it is taking steps to resist the fight.
"At the end of the day, prices will go up on things," said Richard Galanti, Costco's CFO, during a earnings call with investors. "We hope that the ebbs and flow of relationships between our countries will improve in that respect."
The Trump administration pulled up its trade dispute with China this month as it dumped US $ 200 billion in imported Chinese goods from 10% to 25%. The president also threatened to add a 25% tariff to almost all the remaining $ 325 billion in products sourced from China.
Costco only begins to see the effect of the latest tariff increases, affecting goods such as furniture, bicycles and luggage
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In some cases, the layer giant looks to source certain goods from other countries. "We've gone to each vendor to see what we can do to cut costs," Galanti says. "In some cases, we have reduced the ordering obligations …. And we have made use of lower prices for some US goods that have been affected the other way."
Because Who Will pay $ 60 before you go to the store Buzz60's Tony Spitz has details.