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-0.00142721217887714 -0.0023786869647953 -0.00713606089438623 -0.00618458610846808 0.0970504281636538 0.117031398667935 0.13558515699334 0.116555661274976
Stock impact report

Trump tariffs will lead to abandoned freight at ports as cash-strapped businesses reject orders [CNBC]

Macy's Inc (M) 
Last macy's inc earnings: 2/25 06:55 am Check Earnings Report
US:NYSE Investor Relations: macysinc.com/ir
Company Research Source: CNBC
Rick Muskat, president of family-owned shoe retailer Deer Stags which imports its goods from China and sells in major retailers, says his company is looking at tariffs on current freight orders rising from $60,000 to as high as $1 million. Muskat says he is going to pay, but many cash-strapped business owners can't afford the additional costs, and will leave income shipments stranded at ports. Businesses both large and small tell CNBC that the latest round of , targeting countries all over the world and taking the trade levies up to the highest rates in a century, could result in freight being abandoned at ports as cash-strapped owners and CEOs reject incoming goods that could financially wipe them out. Rick Muskat, president of the family-owned shoe retailer Deer Stags, which imports around two million shoes a year — with about 98% of their men's and boy's shoes made in China and sold in Macy's, Kohl's, JCPenney, and on Amazon — is among the business owners preparing to take o Show less Read more
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