Wall Street Weekahead: Tariffs could lead to markdowns in retail shares

Although it reported better-than-expected earnings, Macy's shares slipped this week after it said the latest tariffs on Chinese imports by Washington are hitting its furniture business and warned that additional tariffs would affect clothing and other areas. Late last week, after Washington imposed a tariff rate increase to 25% on $200 billion worth of Chinese imports, U.S. President Donald Trump ordered his trade chief to begin the process of imposing tariffs on all remaining imports from China, which would subject about $300 billion worth of Chinese imports to tariffs.