Trump 2.0 Tariff Tracker· Jan 20, 2026
Long domestic industrial manufacturers protected by 100% tariffs and data-center semiconductors protected by exemptions; Short import-heavy discount retailers crushed by transshipment penalties.
Position Reasoning
Five Below relies heavily on imported goods with thin margins. The combination of Reciprocal Tariffs and the 40% Transshipment Penalty destroys their ability to maintain their fixed-price value proposition.