Fashion Avoids Tariffs for Now, But Is Still Mired in Uncertainty

Fashion can breathe a sigh of relief ⁠— for now. The U.S. and China over the weekend agreed to restart trade negotiations at the G-20 Summit in Osaka, Japan, with the former shelving plans to slap 25 percent tariffs on $300 billion worth of Chinese imports, including apparel and footwear. The news will no doubt be welcomed by the industry, many of whom have issued stark warnings over the past few weeks that levies would result in higher costs for consumers, job losses and store closures. “We welcome the progress made during this meeting and hope it will result in a constructive approach to working with China to deliver significant reforms rather than one that punishes American consumers and threatens U.S. jobs through tariffs,” said David French, senior vice president for government relations at the National Retail Federation. Its research found the proposed new round of tariffs would cost Americans $4.4 billion each year for apparel, $3.7 billion for toys, $2.5 billion for footwear and $1.6 billion for household appliances. “Pulling back from the brink of further tariff escalation is a good sign for retailers and their customers, and we look forward to continued progress in the talks with China so that further tariffs can

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