As a result of the tariff wars, US companies like Walmart, Samsonite and Gap have already expressed plans to raise prices. Walmart and its suppliers will pay the cost of increased duties, which are simply taxes levied on products at the border. As a result, either consumers will pay more, suppliers will receive less, retail margins will be lower, or consumers will buy fewer products or forego purchases altogether.
American business, American workers and American families will be negatively impacted by the decision of their country to impose tariffs. Also, the fact that the tariffs will start at ten per cent now and will rise to 25 per cent in January will create additional chaos in the fashion industry’s supply chains, which will have a wide-ranging negative impact on consumers, companies, and jobs in the United States.
American industry feels these tariffs on imports of textiles, apparel and accessories do little to punish China for its intellectual property and technology transfer prices but do a lot to harm American fashion brands and retailers as well as consumers of their products.
The latest list of tariffs did remove some textile items like rayon fiber, some dyes and certain chemicals. Had US textile manufacturers been forced to pay higher duties on the excluded items, it would have raised costs for manufacturers making goods that must compete with like Chinese products.