APPAREL AND FOOTWEAR INDUSTRY WELCOMES SUSPENSION OF RETALIATORY TARIFFS

Magazine for Textiles, Clothing, Leather and Technology

The American Apparel & Footwear Association welcomes today’s announcement by the U.S. Trade Representative (USTR) to end a dispute over aircraft subsidies, effectively suspending retaliatory tariffs on clothes, shoes, and fashion accessories that were imposed by the U.S. and the EU as a result of that dispute for five years.

Apparel, footwear, and travel goods are already some of the most heavily tariffed goods on the planet, have little ability to absorb additional tariff costs, especially in the face of skyrocketing logistics costs as we attempt to sustain a post-COVID recovery.

The Association has long argued that tariffs, especially those connected to unrelated disputes such as aircraft subsidies and digital services, are an ineffective tool in fostering the resolution of trade frictions.

“It is long past time to re-forge an enduring Trans-Atlantic partnership,” says AAFA President and CEO Steve Lamar. “This outcome is only possible if we eliminate trade frictions, align around shared values, and pursue common approaches that support economic prosperity in global value chains that thread through Europe and the United States.”

Today’s announcement follows numerous requests from the industry to suspend these retaliatory tariffs, including detailed comments from July 2020.

 

Source: AAFA