Despite the preliminary trade deal with China, corporate tax leaders expect tariffs to be a pain in their side throughout 2020.
“Nike delivered another strong quarter of accelerating, high-quality growth, driven by strategic and targeted investment in our digital transformation."
The steelmaker has been pummeled amid trade uncertainty.
The discount retailer's shares fell more than 16% after it cut its outlook for the holiday season due in part to tariff costs.
Business economists dial back expectations for GDP growth, corporate revenue, and hiring, among other key economic indicators.
Slowing economic and global trade growth, as well as Brexit uncertainty, are the main drivers of the insolvencies.
“Further escalation of trade tensions and associated increases in policy uncertainty" could result in lower-than-expected growth next year, the IMF says.
The stock had risen 42% this year as the warehouse retailer benefited from strong consumer spending.
The World Trade Organization rules the U.S. can retaliate for illegal subsidies to Airbus, possibly escalating trade tensions.
With income outpacing expenditures, consumers may have "a good amount of cushion to sustain spending if or as the economy slows."
Another cut in December is "contingent upon an escalation in trade tensions, further weakness in global growth, and increased geopolitical tensions."
China said it was adding tariffs on billions of products while President Trump said U.S. companies should seek ‘an alternative’ to China.
