EU Launches Retaliatory Tariffs on US Apparel and Fashion Items
In an ongoing international tussle on tariffs, the European Union (EU) imposes tariffs on U.S. goods.
BRUSSELS-In an ongoing international tussle on tariffs, the European Union (EU) imposes tariffs on U.S. goods. The response stems from President Trump’s initial announcement of tariffs on aluminum and steel imported to the U.S.
Apparel Magazine reports that among the large list of goods affected, USA-made apparel and fashion items are among them. This category features items like cotton T-shirts, singlets, and vests as well as garments constructed of synthetic fibers and some footwear. The tariffs also cover non-wearable textiles like linens.
The majority of goods impacted carry a 25 percent tariff, but Apparel News points out that designated apparel and textile items “will be assessed an additional 25 percent ad valorem tariff penalty.”
While there is much discussion on who ultimately is affected by the exchange, some argue the tariffs will ultimately harm the consumer. In a report by the BBC, Rick Helfenbein, president and chief executive officer of the American Apparel & Footwear Association, contends that the changes could cost American households an additional $500 per year to purchase affected goods.