However, new tariffs present ‘downside risks.’
New 15 percent tariffs took effect this month and are set to be expanded on Dec. 15.
However, stock market and tariffs could lead to caution in consumer spending.
The National Retail Federation calls the tariff strategy flawed.
The agreement would replace the landmark North American Free Trade Agreement.
Retail sales were up 0.6 percent in June.
Imports at the nation’s major retail container ports are expected to grow only modestly compared with last year’s rush.
NRF issued a statement in response to the Trump administration’s plans to impose a tariff on all Mexican imports.
Total spending for the holiday is estimated to reach $16 billion.
However, fundamentals ‘remain positive,’ according to NRF.