IMPORT & EXPORT
By Deborah Belgum | September 17, 2018
Trump administration will impose tariffs on $200 billion worth of Chinese goods as of next week.
There is nothing like the prospect of tariffs on Chinese goods to nudge importers to bring in their merchandise a little early to avoid a hefty increase in prices.
The renegotiated free-trade deal between the United States and Mexico has a new name and a new set of rules that will make it a little more difficult to manufacture apparel in Mexico.
After months of talking about slapping tariffs on various imports from China, Canada and Mexico, the Trump administration announced it would like to start negotiations with the European Union to eliminate tariffs between the two regions.
The latest round of proposed tariffs on Chinese imports has the apparel world wondering if it is time to shift its manufacturing from the country that for decades has been known as the apparel factory to the world.
Despite rumblings of a trade war, the U.S. economy is marching forward at a nice pace as the U.S. unemployment rate hits a low not seen for almost 50 years.
In the latest salvo in the tariff war between the United States and China, the U.S. cotton industry is expected to receive a direct hit as China piles on an additional 25 percent tariff on U.S. uncombed-cotton imports.
A major trade war that started with aluminum and steel is now migrating into steep tariffs being placed on U.S.-made apparel exported to Europe.
The U.S. textile industry has asked the Trump administration to place tariffs on certain textile and apparel products made by China that may infringe on U.S. companies’ intellectual-property rights.
The stainless-steel vats that populate the factory floor at Swisstex California churn out ribbons of damp, recently dyed knit fabric that piles up in large plastic carts before being sent to the finishing machines.
The North American Free Trade Agreement is still being negotiated between the United States, Mexico and Canada, but no new trade accord has been hammered out and retailers are getting worried.
President Trump launched a trade war in March by imposing a 10 percent tariff on aluminum and a 25 percent tariff on steel coming from countries around the world.
With about 33 percent of all clothing and 72 percent of all footwear sold in the United States coming from China, President Trump’s latest volley to impose some $50 billion in tariffs on that Asian country could have a dire effect on the average consumer.
After President Trump signed an order on March 8 to impose tariffs on imported aluminum and steel, apparel makers were bracing for Europe to slap retaliatory tariffs on a variety of apparel coming from the United States.
The much anticipated Comprehensive and Progressive Agreement for Trans-Pacific Partnership, formerly known as the Trans-Pacific Partnership, was signed March 8 in Santiago, Chile, as member nations moved forward without the United States to build a stronger global economy.