According to a report by Axios, US retailers are increasingly worried that the government's indiscriminate use of tariffs could trigger widespread shortages and soaring prices of goods. Soybean sales alone have plunged by 50% within a week.
The US's National Retail Federation predicts that if tariffs continue to increase, US imports could drop by at least 20% by the second half of 2025. Recently, CEOs of major retailers including Walmart, Target, and Home Depot have warned that the government's trade and tariff policies may lead to severe shortages and price hikes. Companies such as Procter & Gamble, Best Buy, Unilever, and Ford have already issued price increase warnings or implemented price hikes.
The owner of a children's goods store in Washington revealed that prices for essential items like car seats and strollers have risen by an average of 30% since last week. Several well-known children's product companies have indicated that rising import tariffs are forcing price increases, while domestic manufacturing could significantly inflate production costs.
The report also noted that the US government's tariffs are impacting not only imports but also exports. Agricultural products such as soybeans and pork are seeing a sharp decline in overseas sales. Data released by the US Department of Agriculture showed that during the week of April 11-17, net soybean sales fell by 50% compared to the previous week, while net pork sales dropped by a staggering 72%.
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