Donald Trump's tariff push squeezes US businesses and consumers

The first time President Donald Trump threatened tariffs on the luggage that Tiffany Williams imports for her Texas store, she stockpiled high-end suitcases and other products ahead of the deadline to protect profits. This time, she may not have that option. Trump on May 5 vowed to lift tariffs on $200 billion of Chinese imports to 25 percent from 10 percent by the end of this week if no trade pact is sealed between the world's two largest economies. Williams sources about 85 percent of the products for her business, Luggage Shop of Lubbock, from China, and she bought heavily before Trump's first round of 10 percent hit last fall.

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