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The largest US remittance corridor is Mexico, followed by China, per the Federal Reserve. Click here to view our full forecast for US remittance outflow. Widespread availability of digital remittance apps has made them a popular option globally.

Our take: While Gucci鈥檚 reinvention is underway, it鈥檚 unfolding in a climate where even luxury鈥檚 most reliable shoppers are starting to pull back. That puts both Gucci and Kering in a tight spot, with little margin for error.

Retailers aren鈥檛 likely to get certainty any time soon: The Trump administration is considering slashing China tariffs down to a still-astronomical 50% or 65%, leaving merchants to stay cautious on merchandising.

The big picture: While Tesla has an advantage over most automakers in that it assembles all cars for the US market domestically, it still relies on other countries鈥攊ncluding China and Mexico鈥攆or parts, which will be subject to a 25% tariff starting on May 3.

Ecommerce may be hit particularly hard after President Donald Trump ramped up tariffs on China to 245% and announced plans to tighten regulations on de minimis imports from China and Hong Kong鈥攎oves that will likely dampen sales from Chinese-based sellers on online marketplaces operated by retailers like Amazon and Walmart, as well as reduce growth for platforms like Shein and Temu.

Amazon Haul expands overseas as de minimis uncertainty clouds domestic prospects: The low-cost marketplace is now available to UK and Saudi Arabian shoppers.

Roughly two-thirds of the $300 million stems from the 145% tariff on China imports, CFO Nelson Urdaneta said on the company鈥檚 Q1 earnings call. Another 10% comes from the reciprocal tariffs, which are wider in breadth and reach than Kimberly-Clark anticipated. And 25% is from the retaliatory tariffs other countries have slapped on US imports.

The interest in buying phones and computers now is unsurprising, considering that major companies like Apple, Google, Huawei, and Xiaomi manufacture or source those items from China. While most electronics from China currently have a 20% tariff rate, that could rise to the duty that鈥檚 on other goods鈥�145% to 245%.

The news: L鈥橭r茅al saw robust growth in Q1 despite signs of sluggishness in the US market and continued weakness in China. Like-for-like sales rose 3.5% YoY, surging past expectations for 1.3% growth. Strength in Europe and emerging markets like Brazil helped L鈥橭r茅al outperform the broader beauty sector.

Fewer US consumers shopped on Black Friday this year, despite record spending, per PYMNTS鈥攊ndicating higher spending per shopper. Big-ticket spending also saw an uptick, likely fueled by some shoppers splurging ahead of potential tariffs. Commercial banking shifts ahead: Corporations in the US and abroad are trying to plan around the uncertainty.

China turns to stimulus, charm offensive to blunt Trump鈥檚 tariffs: But US duties of 104% could deal a severe blow to an economy struggling with depressed consumer and business confidence.

No matter when or how they land, President Donald Trump鈥檚 tariffs will shake up retail and digital media.

Following Trump鈥檚 tariff announcement, Amazon also began canceling some direct import orders from China, according to CNBC. Our take: Tariffs are expected to drive up prices, prompting consumers to adjust their shopping habits by cutting back on discretionary spending and trading down to lower-cost options.

Poshmark and ThredUp may benefit from rising merchant prices on TikTok Shop and Amazon, where many third-party sellers get their items from China. Hubs for online ad spending鈥攊ncluding Facebook, Pinterest, and TikTok鈥攃ould see revenues decline if international companies like Temu and Shein reduce their budgets.

Cost disadvantage in US: Snap-on CEO Nicholas Pinchuk recently told CNBC that companies building in the US face a tougher road than players in China that benefit from lower-cost materials and fewer regulations. He also cited the industry鈥檚 unfavorable public image, saying people still think of manufacturing as 鈥渄ark鈥� and 鈥渄irty鈥� work.

Apple was hit the hardest due to its manufacturing plants in China, India, and Vietnam: Its shares plunged 9.2% in the day after the announcement. Amazon and Meta followed close behind, each with 9% declines, while Nvidia鈥檚 shares fell 7.8%. Alphabet and Tesla saw more modest losses of 3.9% and 5.5%, respectively.

At the same time, many furniture retailers鈥攊ncluding Wayfair and RH鈥攁re reliant on Vietnam and China for sourcing, leaving them (and their customers) vulnerable to tariffs. The toy industry is also vulnerable. Asia is a popular manufacturing destination for Crayola, Hasbro, Mattel, and Funko.

Walmart is upbeat despite tariff turmoil: The retailer expects to take share as shoppers grow more value-conscious.