US retail sales fall sharply in May

US retail sales fall sharply in May

WASHINGTON (Reuters) -U.S. retail sales dropped more than expected in May, weighed down by a decline in motor vehicle purchases as a rush to beat potential tariffs-related price hikes ebbed, but consumer spending remained supported by solid wage growth.Retail sales...
Tariff ‘stacking’ adds another headache for US importers

Tariff ‘stacking’ adds another headache for US importers

By Timothy Aeppel(Reuters) -John Hamer, president of Rodgers Wade Manufacturing in Paris, Texas, makes store fixtures for big retailers like Ross Dress for Less and Ulta Beauty.He sources many of the goods from China, which until recently meant he paid 70% in tariffs...