Former Target Exec Storch: Trump Tariff Concerns ‘Grossly Exaggerated’

EXCERPT:

STORCH: "No, I think this whole thing with the tariffs is grossly exaggerated by a factor of at least two. I don't know what, because — “

VARNEY: "Why do you say that?"

STORCH: "Because the tariffs are only in the cost of the goods, they’re not in the retail price. So if you put a tariff on the cost of the goods at 20%, it doesn’t mean the retail price goes up by 20%. Not unless you could buy everything at cost somewhere. Additionally, when they put tariffs on toys back in the first Trump administration, the studies show 87% of the increase was borne by the Chinese manufacturers. China has a huge toy industry, and they have everything to gain and nothing to lose by keeping the sale rather than have it move to America, like a lot of it will do. Additionally, there are substitute products, you know, products that you can sell that are made in the U.S. instead of — you just promote those. And then, of course, there will be transfer of some sales to the U.S."

(Via Breitbart)