Target’s Chief Merchandising Office, Mark Tritton, has reportedly told the retailer’s suppliers that the firm “will not accept any cost increases related to tariffs” on Chinese exports and that the suppliers should “develop appropriate contingency plans”. That’s a particularly hawkish stance, though at the macro-economic level Chinese export price deflation in July was equivalent to 28.6% of the rise U.S. import duties suggesting Chinese exporters are willing to make some sacrifices. Chinese supplies accounted for 93.8% of U.S. seaborne import...