For retailers, the tariff shock is far from over

The headlines this past February suggested a collective sigh of relief was in order. When the Supreme Court struck down the use of the International Emergency Economic Powers Act for broad-scale tariffs, many retail executives exhaled, assuming the “tariff era” had finally reached its chaotic conclusion. They shouldn’t have. The absence of a specific tax is not the same as the return of a stable bottom line. Refunds are legally uncertain and operationally a nightmare. Perhaps most precario...