The US trade policy under the Trump Administration has become the hottest topic of discussion in the global business world. Industry leaders in the textile and clothing sector everywhere are busy in evaluating the possible impact of the US-China trade war which involves imposition of tariffs on each other’s imports. The US has released a list of 1300 products from China that will attract tariffs as high as 25 percent. Imports of apparel, footwear, and travel goods from China have been spared from any tariffs but the list includes items of machinery for: textile printing, carding, spinning, weaving, knitting, embroidery and sewing machines—and many of the parts that go into operating those machines. Imports of these machines from China would attract tariffs of 25 percent.
The Global Village Stares at the First World Trade War
Newer PostNo “wait and see” approach, please!