Trade association chief warns US days away from 'retail Armageddon'

With the latest round of tariffs on a wide swath of goods from China set to hit Sunday, the head of a major trade association representing the apparel and footwear industry is warning the United States is fast approaching “retail Armageddon.”

“If we get hit with these tariffs, this is a one way ticket to retail ugly,” Rick Helfenbein, CEO of the American Apparel & Footwear Association, told Fox Business.

Beginning Sept. 1, the Trump administration will slap 15% tariffs on $300 billion in products imported from China. The duties...