Impact of Trump's tariffs on US retail sales

Retail sales in the US slowed in April as Trump's tariffs impacted consumer spending. Sales rose 0.1% in April, below expectations, after a 1.7% increase in March. Economists believe tariffs will lead to higher prices and weaken spending in the future.

Impact of U.S. Tariffs on Walmart Prices

Walmart announces plans to raise prices due to U.S. tariffs on imports from China and other countries, impacting items on store shelves and shoppers' wallets. CEO Doug McMillon hopes for lower taxes on Chinese imports and relief on tariffs for food items like bananas and avocados. Retail sales remain flat as consumers are cautious about spending due to tariff-related price increases.

Impact of Tariffs on U.S. Consumer Goods

Major consumer conglomerates are cutting financial forecasts due to the impact of tariffs on Chinese goods and global imports. Companies like PepsiCo, Kimberly-Clark, and Procter & Gamble are warning of lower sales and profits. Consumer sentiment is declining, with concerns about the future of the U.S. economy and rising inflation. Retail sales saw a jump in March driven by pre-tariff purchases.

US Retail Sales

US retail sales barely rose in May, pointing to greater financial strain among consumers. Retail purchases increased 0.1% after a downward revision in prior months. Services consumption growth is slowing, and consumer confidence is declining. The Federal Reserve may lower interest rates soon based on softer consumer and producer prices.

Retail Sales in March 2024

Retail sales in March rose 0.7%, exceeding economists' forecasts, indicating a boost in the economy from consumer spending. Sales minus autos and gas increased by 1.0%, with strong growth in internet retail and grocery stores. The Federal Reserve may delay interest rate reductions due to the strong consumer activity.

Former Minnesota Gov. Jesse Ventura entering the cannabis market as a seller

Former Minnesota Gov. Jesse Ventura is entering the cannabis market as a seller, launching his own brand of cannabis edibles in partnership with Retro Bakery. He supports the cannabis industry and credits cannabis with helping his wife control her seizures. Minnesota legalized recreational marijuana for adults last year, but full-scale retail sales may be delayed.

Virginia Marijuana Legislation

Virginia lawmakers passed legislation to allow recreational retail sales of marijuana to begin next year, aiming to compete with the illicit market. Former LAPD Officer Kyle Kazan discusses the disparity between legal and illegal marijuana sales.