First of all, every increase in costs is eventually paid for by consumers, e.g., your customers . It's an undeniable fact of economic life: costs are passed on. So, when the Trump Administration announced on June 15 it will issue tariffs on an additional $50 billion of Chinese imports, the response from the retail community was prompt . It can be generally summarized in one word: 'Yikes!' Matthew Shay, President and CEO, National Retail Federation: “Tariffs are taxes on American consumers, plain and simple. These tariffs won’t reduce or eliminate China’s abusive trade practices, but they will strain the budgets of working families by raising consumer prices.' Rick Helfenbein, President and CEO, American Apparel & Footwear Association: 'We remain deeply concerned. Any new tariffs present an immense burden for the American people. There are grave consequences to the use of tariffs. Congress needs to step in now to end this dangerous obsession. Tariffs are nothing but a hidden, regressive tax, plain and simple.' Michael Petricone, Senior Vice-President, Government & Regulatory Affairs, Consumer Technology Association: 'Tariffs go against the interest of the American people. The economy will respond to the president's tariff agenda by increasing the cost of goods that people use every day, harming the U.S. economy and sinking the stock market.' Here's one micro-example substantiating these concerns: earlier this year, 20% tariffs were applied to 'laundry equipment.' And today, prices for washers and dryers have increased 17%. ('Trickle down tariffs', anybody?) The current focus is United States versus China. Grim as that is, the big picture of U.S. tariffs versus the rest of the world – Canada, Mexico, the U.K., European Union, etc – is truly ominous. Remember, the prices retailers pay will go up. And those added costs must be covered somehow. Everybody's families will be paying more. Or having to cut spending in some areas (your stores?) when faced with higher prices elsewhere. Today, it may be a far-off spitting contest. But tomorrow or soon after, it's going to impact our customers, and thereby, impact retailers.