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Yahoo Tech - Apple MacAug 24, 2019
Retailers Dealt Another Blow as Trump Steps Up China Tariffs
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. For American retailers, what Trump giveth, Trump taketh away.President Donald Trump's administration, which said just 10 days ago it would delay until December some of its new tariffs on Chinese goods, has hit the retail sector with a new blow: The new levies will be raised to 15% from 10% as retaliation after China threatened to impose additional tariffs on $75 billion of American goods.He also said that the $250 billion of goods and products already being taxed at 25% will see that rate hiked to 30% starting on Oct. 1. Trump had warned earlier in the day that he was planning to escalate the trade war with China, firing off on Twitter a new demand that U.S. companies seek alternatives to producing goods in China. Some large retailers had said they'll be able to pull levers to keep from passing on the costs to consumers at the 10% tariff rate, but a 15% hike makes that harder to pull off.The National Retail Federation, a retail trade association, weighed in on the escalating trade war Friday, ahead of Trump's tweets laying out the specifics."There are no winners in a trade war, and right now, both sides are losing," said Jonathan Gold, vice president of supply chain and customs policy at the group. "American businesses and consumers continue to be caught in the crosshairs."Home Depot Inc., Lowe's Cos., Mattel Inc. Hasbro Inc., Walmart Inc., Target Corp., Best Buy Co., Macy's Inc., Kohl's Corp., J.C.

EngadgetAug 24, 2019
Trump tries to overturn ruling stopping him from blocking Twitter users
President Trump is determined to challenge an appeals court ruling preventing him from blocking critics on Twitter. The Justice Department has filed papers for Trump that demanded a rehearing by the Second US Circuit Court of Appeals in New York, ar...

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