American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days.

The National Retail Federation expects that holiday sales gain could shatter last year’s record-breaking season even as a snarled global supply chain slows the flow of goods and results in higher prices for broad range of items.

Getty Images via CNN(CNN) - Retailers expect consumers to deliver another strong holiday shopping season, even as the trade war hangs over the economy. Even so, retail sales in November and December will nevertheless grow between 3.8% and 4.2%, to up to $730 billion, the National Retail Federation predicted Thursday. Holiday sales have increased by an average of 3.7% over the past five years, according to the group. Job growth, a low unemployment rate and rising wages will bolster holiday spending, Shay said. The trade war between China and the United States, the world's two largest economies, is weighing on retailers.