Oct 17, 2018
US apparel industry is already highly tariffed, says AAFA
Oct 17, 2018
The American apparel and footwear industry is highly tariffed, as per the American Apparel & Footwear Association (AAFA). It represents six percent of all imports, and currently pays 51 percent of all duties collected by the US government. More tariffs and trade barriers are just not welcome or helpful, said the head of the association.
“A tariff is a hidden tax on consumers. Tariffs lead to higher prices, lost sales, and ultimately can result in job losses. The Trump administration's use of tariffs to deal with legitimate concerns with theft of intellectual property, are self-inflicted wounds that will hurt American consumers, American companies, and American workers,” Rick Helfenbein, CEO & president, AAFA, told Fibre2Fashion in an interview.
Many of the trading partners have responded with retaliatory tariffs on American exports. “While we are not happy that American denim will face added tariffs when selling in the EU, the American farmer will be hit the hardest. For example, China has issued tariffs on $1 billion worth of American cotton,” he said.
AAFA represents more than 1,000 brands, retailers, and manufacturers. It provides expertise in supply chain management, trade policy, and brand protection, to its members.
The association’s focus is on supporting the growth and success of the apparel and footwear industry.
Copyright © 2023 Fibre2Fashion. All rights reserved.