Here's where we stand with tariffs. In mid-May, President Donald Trump raised tariffs on $200 billion in Chinese goods from 10% to 25%. In home textiles world, that mainly impacts certain imported rugs. But the administration also announced its intention to levy a 25% tariff on everything else coming out of China that hasn't already been hit, and that sweeps up all other home tex- tiles produced in the country. This news landed just as retailers began reporting their quarterly results, and naturally many of them felt they needed to address the situation. Walmart and Macy's acknowledged that should the latest tariffs go into action, they would probably have to raise prices on some goods - though both said they're doing their best to work with suppliers to mitigate the increases.
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