Issue
40: September 2018
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Talking strategy: Trump tariffs create uncertainty for world textile and apparel trade |
9 pages,
published in Issue 40, September 2018
Report price:
Euro 305.00;
US$ 400.00
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World textile and apparel trade grew in 2017 for the first time since 2015—and this has been seen as a welcome development as the world economy has continued to emerge from the global financial crisis of 2008. Key to this recovery has been trade liberalisation facilitated by members of the World Trade Organization (WTO). However, there are fears that the protectionist trade policies favoured by the USA's President Trump may lead to a slowdown in world trade, or even reverse trade growth. Since becoming president, Mr Trump has withdrawn the USA from the Trans-Pacific Partnership (TPP) and sought to renegotiate the North American Free Trade Agreement (Nafta). Most recently, he announced the imposition of additional tariffs of 10% on US imports of products in 5,745 tariff lines from China with effect from September 24, 2018, and an increase in this percentage to 25% as of January 1, 2019. Such a bold move has provoked a mixed response. Retailers in the USA are concerned that the implementation of the tariffs will create "chaos" for the fashion industry's supply chains, and the United States Fashion Industry Association (USFIA) argues that the tariffs will have a negative impact on consumers. China has retaliated by placing tariffs on US$60 bn worth of imports from the USA, which are also set to take effect from September 24, 2018. In this edition of "Talking strategy", Robin Anson discusses the potential outcomes of the implementation of President Trump's tariffs, and draws on the responses to the additional US tariffs from a number of key organisations—including the American Apparel & Footwear Association (AAFA), the National Council of Textile Organizations (NCTO), the National Retail Federation (NRF) and the USFIA.
Global Apparel Markets provides intelligence, analysis and insight on the global apparel industry. | | What's in it? Each issue contains: essential information on trade and trade policy; news from leading brands, companies and other organisations; analysis of key geographical markets; and expert opinions on strategy. A single issue of Global Apparel Markets includes: practical and strategic advice from industry experts a report on a key geographical market a round-up of the latest product innovations a feature on trade and trade policy comprehensive information on the latest business developments An annual subscription to Global Apparel Markets is a cost-effective way to keep informed about trends and developments in the global apparel industry. Subscriptions are available in printed and/or digital formats. Printed and digital subscribers receive each issue in printed format in addition to a digital PDF file, which is available immediately on publication. Subscribers also receive a complementary digital subscription to Global Apparel Update, delivered directly by email once a month. This free supplement contains essential information on business news and the latest product developments. Like all Textiles Intelligence publications, Global Apparel Markets is a reliable source of independently sourced business information, and it does not carry advertising.
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