U.S. companies with the biggest China exposure with potential tariff risk Wells Fargo

News Snapshot:

Former President Trump, who has been leading in several domestic polls to win the 2024 presidential election, has floated the idea of a new 10% worldwide tariff and a 60% or more tariff on Chinese imports. This could heat up tariff risk that would affect most retailers. There is significant uncertainty about the impact of these tariffs on retailers. According to a Wells Fargo Equity Research Industry Update report, the worst-case scenario “could completely eliminate the earnings of the most exposed retailers, before considering mitigation.” Retailers would likely raise prices, aim to save production costs and eventually adjust sourcing, analysts...