UBS warns tariffs could trigger thousands of store closings

Swiss bank and financial services provider UBS is warning that escalating tariffs could cause widespread store closures and cost billions in sales. “Our view is the market is not realizing how much brick & mortar retail is incrementally struggling and how new 25% tariffs could force widespread store closures,” the bank said in an internal report. “We think potential 25% tariffs on Chinese imports could accelerate pressure on these company's profit margins to the point where major store closures become...