What to Watch: Trade Wars
With the feeling that policy changes are occurring week-to-week, the trade dispute between the U.S. and China will be an issue that fashion execs will be monitoring closely in the coming months. The latest about-face came Friday when the U.S. government, in a retaliatory move, announced that existing tariffs on $250 billion worth of Chinese imports, including handbags, would rise from 25 percent to 30 percent on Oct. 1. It also said levies on another $300 billion, which also include apparel and footwear, will now be set at 15 percent instead of 10 percent. Some of those will come into force on Sept. 1. The rest will be hit with levies on Dec. 15 and the government has indicated that this would give retailers a few months of extra breathing space to stock up for the crucial back-to-school and holiday shopping periods. In the apparel sector, popular Christmas gifts such as cashmere sweaters and ties — as long as they’re made up of 70 percent or less silk — were among the items included in the office of the U.S. Trade Representative’s December list. This will not give retailers a huge amount of relief, though, according to the American Apparel & Footwear Association, which isFollow WWD on Twitter or become a fan on Facebook.
from WWDWWD https://ift.tt/2KUMTif
0 comments:
Post a Comment