Less than a year ago, executives from FedEx and UPS were talking about how they were handling a flood of packages from China to American consumers. “Explosive” is how Carol Tomé, UPS’s chief executive, in July described the volume of shipments from e-commerce companies selling Chinese goods in the United States. And FedEx’s chief customer…
UPS said on Tuesday that it would cut 20,000 jobs this year as part of a long-term plan to reduce costs and bolster profit. The cuts come as President Trump’s tariffs are prompting some UPS customers to ship fewer goods. The company said “macroeconomic uncertainty” prevented it from updating its forecasts for revenue and profits…
A loophole that has allowed American shoppers to buy lots of cheap goods from mainland China and Hong Kong without paying tariffs and filling customs forms is closing on Friday. Prices have already gone up. Orders for many imported goods from retailers like Shein and Temu could dwindle as consumers balk at the higher prices…