Days after when US apparel and footwear buyers heaved a sigh of relief, it received a major blow from US Trade Representative office. There has been no relaxation for sports footwear and apparel imported from China which is going to be imposed with fourth round of tariffs from September 1.
“No grace period for footwear and apparel,” said Bill Sells, Senior Vice-President – Government and Public Affairs at the Sports and Fitness Industry Association (SFIA), adding, “Any Chinese imports not unloaded at a US port by September 1 will be subject to the new tariffs, unless they have received an exemption or exclusion.”
Apart from footwear and apparel items, sports equipment, headgear and components are also tagged for new tariffs. Entire sports and fitness will be severely impacted by additional imposing of tariffs by US President Donald Trump, resulting in price hike.
The recently released list of tariffs will hurt US $ 300 billion of Chinese goods. The new 10 per cent tariffs were set to take effect in two stages this year, Sept 1 and Dec 15 respectively. Mobile phones, laptop computers and toys will be covered in second stage after the start of the Christmas shopping spree.
China serves as an important manufacturing destination for US companies. Almost every sector gets manufacturing done from China, says SFIA. The booming sports and fitness industry in the United States employs more than 375,000 people and generates US $ 150 billion of revenue in domestic wholesale business.
Image Source: www.bezux.pl