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Trump China Tariffs to Unleash US Supply Shock; Shein, Temu Hike Prices | Bloomberg The Pulse 04/28
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April 28, 2025
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50:13Now PlayingPresident Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home.Since the US raised levies on China to 145% in early April, cargo shipments have plummeted, perhaps by as much as 60%, according to one estimate. That drastic reduction in goods from one of the largest US trading partners hasn’t been felt by many Americans yet, but that’s about to change. By the middle of May, thousands of companies — big and small — will be needing to replenish inventories. Giant retailers such as Walmart Inc. and Target Corp. told Trump in a meeting last week that shoppers are likely to see empty shelves and higher prices. Meanwhile fast-fashion giant Shein has raised US prices of its products from dresses to kitchenware ahead of imminent tariffs on small parcels, while discount Chinese retail app Temu appears to be passing on nearly all of Donald Trump’s new import taxes to US consumers, more than doubling the cost of some products in a move that may add to concern about the inflationary impact of tariffs.
Today's guests: Themos Fiotakis, Barclays FX Strategy and EM Macro Strategy Global Head, Horst Schneider, Bank of America European Automotive Research Head, Susan le Jeune d'Allegeershecque, Former British High Commissioner to Canada, Richard Madden, DC Advisory European Executive Chairman.
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