Signs point to strong back-to-school spending

(Morgan/Flickr/CC BY 2.0/MGN)

Back to school spending could be the highest since 2011. Retail firm Customer Growth Partners says spending will grow by more than 5 percent. Strong back to school shopping often leads to more spending over the holidays.

The numbers are getting bigger. The U.S. is starting the process Wednesday to put tariffs on an additional $200 billion in Chinese goods. A Trump administration official says China has been unresponsive in negotiations so far.

Pfizer says it will roll back price hikes on drugs. The company said in a statement that the prices will go back to where they were before July 1 and will remain there until at least President Trump's plan to strengthen health care take place.

To prepare for the actual Prime Day, shoppers can preview deals by downloading the Amazon app. Through the app, customers can add items to their shopping list and they will be notified when the deals start. The sale begins at 3 p.m. Monday and is available to Prime members only.

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