Trump's tariff promises have import-heavy retailers facing 'new reality'
Trump's tariff promises have import-heavy retailers facing 'new reality'
Fashion and apparel brands from Steve Madden to Under Armour, e.l.f. Beauty, and Ralph Lauren are preparing for President-elect Donald Trump’s promised tariffs.
Summary
Following Donald Trump’s election victory, proposed tariffs of 10%-20% on general imports and 60% on Chinese goods are raising concerns across the fashion, beauty, and footwear industries.
Companies like Steve Madden, Under Armour, and e.l.f Beauty are assessing impacts, with some, such as Steve Madden, planning to reduce reliance on Chinese suppliers.
Tariff fears have already affected retail stocks, and executives acknowledge the industry is now more prepared for trade disruptions.
Many brands, including Ralph Lauren and Tapestry, have diversified sourcing in anticipation of restrictive trade policies.
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I don't think that most people really just how big of a deal a 60% tariff on Chinese goods would be. This isn't like paying a bit of extra sales tax. Nearly everything is made in China. This is going to be an absolutely devastating move, as in nearly everything suddenly doubles in price and becomes unaffordable.
How the fuck do so many people think that the economy is going to be better under Trump than Harris? I really don't get it. If the economy was one of my top issues (it isn't), then that would make me even LESS likely to vote Republican.
But things got more expensive when Biden was president, so if we put Trump in the white house prices will go back to where they were.
Also he's gonna make China pay taxes instead of us.
And he's gonna get rid of all them immigrants that are draining the economy with their... uh... crime and pet eating and stuff.
This is such a ridiculous argument. "Things are bad, so anything different MUST be better."
In the words of George Carlin: "Imagine how stupid the average person is, then realize half of all people are stupider than that."
Yes, reading your post, that Carlin quote is exactly what I thought about.
Hey, it will mostly affect affordable consumer goods. High-end luxury brands will be least affected. So if you're obscenely rich, it's no issue! Problem solved!