In October 2019, the $5 billion entertainment complex and mega-mall American Dream opened in East Rutherford, New Jersey, after about two decades of planning.
Then, the pandemic hit. It reopened again in October 2020 at a time when most Americans had shifted to online shopping for a safer experience.
Now that vaccines are readily available, American Dream developer Paul Ghermezian and his team are hoping customers will look for that in-person experience that they missed throughout 2020. Not only does the mall boast stores at all price ranges, from Hermes to Zara, but it also is home to the DreamWorks Water Park, the Nickelodeon Universe theme park, and the Big Snow indoor ski slope, among other attractions. As the holiday shopping season gets in full swing, he's hoping people will stop by for gifts as well as to take advantage of the special events and deals American Dream will offer.
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
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