Temu, which is owned by the Chinese e-commerce company PDD Holdings, and Shein, which is now based in Singapore, said in separate but nearly identical notices that their operating expenses have gone up “due to recent changes in global trade rules and tariffs.”
More than 550 vendors are set to showcase their products at the Craft Brewers Conference and BrewExpo America, but experts told IBJ the conference goes far beyond the walls of the Indiana Convention Center.
President Donald Trump on Thursday revoked a nearly century-old tax loophole that saved companies from paying tens of billions of dollars in fees on cheap imports, most of which come from China.
Newfangled Confections, which acquired another beloved Indianapolis brand in 2020, is closing operations in late spring, founder Carrie Abbott shared on social media Tuesday.
While the leaders of Canada and Mexico managed to strike political deals to delay the implementation of the tariffs Trump had slapped on their products, China has not struck such a deal.
President Trump also reaffirmed that he would announce “reciprocal tariffs”—meaning that the U.S. would impose import duties on products in cases where another country has levied duties on U.S. goods.
Nordstrom’s board of directors unanimously approved the the proposed transaction, while top executives Erik and Pete Nordstrom—part of the Nordstrom family taking over the company—recused themselves from voting.
Overall, The National Retail Federation predicts retail sales in November and December will rise between 2.5% and 3.5% compared with same period a year ago.
The nearly 1.1-million-square-foot campus, which includes five office buildings and one small retail building, was purchased by Interamar and Typerion Holdings for an undisclosed price.
