here's tim boyle, the ceo of columbia sportswear. tim, welcome to the program.s, sir. >> thanks for asking me to join you. stuart: you're telling me, you're telling everyone, that these tariffs, extra tariffs, if imposed on september 1st, would be a disaster for the economy. that's a very strong word, sir. back it up. >> well, some of the garments and footwear that we make are made in china. we are very fortunate, we don't have a significant presence in china that's imported into the u.s. but some of the products that we import from china, consumers will pay half the price of the garment or footwear that they buy in taxes. that's due primarily to existing taxes and tariffs, which have been in place since the hoover administration, some as high as 37.5%, plus the additional 10%. it's going to be very difficult for people to purchase some of these products. stuart: if these tariffs, the 10% extra, is added on september 1st, you at columbia sportswear would be putting your prices up, correct? >> oh, absolutely. stuart: well, the president just said in his impromptu

also ceo of columbia sportswear.e's been very outspoken about tariffs, the impact that will have on the economy. another look at futures. we're going to open in a little less than 18 minutes we are going to be higher. for farmers here, this is our life's work. but when a recall happens, perfectly good food goes to waste. now, we've got away around that. looks good. we're on target. blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. it's used by some of the biggest retailers everywhere. a nice lettuce. so more food ends up on your table, is that daddy's lettuce? yeah. and less food goes to waste. ♪ ♪ ♪ >>> a busy morning on the retail earnings front best buy shares falling premarket. quarterly profits did beat estimates, but revenues and same-store sales missed forecasts. they also lowered guidance and comps for the full year. but different story for dollar general and dollar tree, each rising on better than expected earns, revenues, and comp store sales. david's read every retail press

here is the ceo of columbia sportswear calling these tariffs a disaster for our economy saying they willorce retailers to raise prices on products. then the footwear industry, lauren thomas, come on down because there are some amazing little nuggets in your story why is footwear in particular so hard hit >> and i hate to be the barrier of bad news. >> were those shoes made in china by the way [ laughter ] >> i know, i should've changed but, yes, no, footwear and even more than apparel. you said about 70% of footwear in the u.s. comes from china a lot of these companies, nike, adidas, underarmour, still rely on china increasingly they've shifted production into places like vietnam and indonesia. but china is still -- i mean, it plays a huge role. last year more than $11 billion of footwear was imported into the u.s. >> this comes from one of the trade groups a popular type of canvas skate sneaker, let's just call it a vans sneaker could increase in price to nearly $59 from under $50. the price of a typical hunting boot could go from $250 to 2990. now is this just the trade group scaring u

when you talk to business, bloomberg spoke to columbia sportswear's executive.le too late and the chaotic policymaking makes it hard for them to plan for their businesses. in terms of the long-term prospects of this, in terms of reaching a lasting deal, bloomberg economics is still projecting a re-escalation is likely after this rather than a de-escalation. some analysts view this move as less than an olive branch toward china and more recognition of what is at stake domestically at home. with this announcement, he seems to finally be recognizing the economic costs and the pressure on the domestic consumer by having these tariffs. on the china side, one viewpoint is why would they choose to make difficult decisions with trump now when they may be able to wait this out and have trump fold as they starts to be a drag on the markets? the consensus view is the relationship, the trade war will still be in purgatory mode at least until the rest of his administration, if not for longer. paul: selina wang in beijing, thanks for joining us. southeast asian nations have f

impact remains top of mind for retail executives though it is starting to influence the guidance columbia sportswearn this network earlier today expressed concerns with a number of ceos this morning >> this basically rogue application of tariffs coming at a very bad time in the united states is going to be really, really hard to manage. >> it's hard to say how consumers will react the general overall volatility in the markets adds caution to the outlook. >> i don't think anything in the basis change we have the unknown of tariffs and where they go and what they may do i don't know that any of us have an answer for that at this point in time. >> joining us to discuss is patrick mcgeever, welcome. how overall much of a cloud is this hanging over the retail sector right now >> hi, sara. certainly a growing cloud. but there have been a number of retailers that really haven't felt it yet and that aren't expecting a big impact, even some that you would expect to be impacted by it like dollar tree, for example, which reported this morning. they don't really -- they can't raise prices to offset the impact a