Uniqlo owner warns significant tariff impact, plans price hikes
DETROIT, JUL 10 – Tariffs on imported goods are raising costs for small businesses like Detroit's The Peacock Room, which generates $1.5 million annually and faces ongoing trade uncertainty, officials said.
- Fast Retailing, owner of Uniqlo, said higher U.S. tariffs will significantly affect its U.S. operations from autumn 2025, prompting planned price increases.
- This comes after President Donald Trump set a new deadline of August 1 to implement reciprocal tariff measures and extended the temporary suspension of tariffs targeting specific countries by an additional 90 days, further heightening uncertainty for businesses.
- Fast Retailing reported a 1.4% rise in operating profit to 146.7 billion yen by May 31 but expects difficulty absorbing all tariff-related costs despite early U.S. shipments.
- The proprietor of The Peacock Room, a boutique in Detroit, emphasized that small businesses lack extensive financial reserves, making them especially susceptible to the impacts of tariffs.
- The tariff regime and trade tensions have dampened shopping enthusiasm and pressured profits in China, challenging global businesses to adapt to rising import costs.
Insights by Ground AI
Does this summary seem wrong?
21 Articles
21 Articles
All
Left
3
Center
9
Right
1
Uniqlo to raise U.S. prices as Trump tariffs take effect | Honolulu Star-Advertiser
TOKYO >> Japan’s Fast Retailing, owner of the Uniqlo clothing brand, said on Thursday higher U.S. tariffs would start impacting its U.S. operation significantly from later this year and it planned to raise prices to mitigate the blow.
·Honolulu, United States
Read Full ArticleUniqlo owner warns significant tariff impact, plans price hikes
Japan's Fast Retailing , owner of the Uniqlo clothing brand, said on Thursday higher U.S. tariffs would start impacting its U.S. operation significantly from later this year and it planned to raise prices to mitigate the blow.
·United Kingdom
Read Full ArticleCoverage Details
Total News Sources21
Leaning Left3Leaning Right1Center9Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 23%
C 69%
Factuality
To view factuality data please Upgrade to Premium