Consumer
Nike, Walmart Jump on 90-Day Tariff Pause for Key Suppliers
Trump’s about-face came roughly 13 hours after higher reciprocal duties on 56 nations and the European Union went into effect.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Retail stocks soared after President Donald Trump said he’ll pause higher tariffs for 90 days for dozens of nations that haven’t imposed retaliatory measures on the US.
Countries getting a reprieve include several key suppliers for many apparel and sneaker makers. Critical production hubs including Vietnam, Indonesia and Cambodia have all expressed interest in negotiating trade deals with the US, but global supply chains remain in limbo until any new pacts are reached.