Trump’s tariffs would hit the Fashion Store in the United States – big price increases for clothes and shoes

Fashion- and shoe manufacturers and retail chains are waiting in the United States with mixed feelings of fear Donald Trump’s planned import duties.

The same fear also smolders among toy, furniture and home appliance manufacturers and stores.

This is because a large part of the shoes, clothes and other products sold by US stores are imported goods that are subject to tariffs. American brands also manufacture their products abroad, especially in China.

Tariffs would probably force them to make big price increases, which could freeze the purchasing power of consumers already spooked by inflation.

Already last summer, the US fashion industry (United States Fashion Industry Association) report reported that one of the fashion industry’s biggest fears was protectionist trade policies, which usually means import tariffs.

of the United States the largest slice of clothing imports, or a third, comes from China.

Shoe manufacturer Steve Madden has estimated that almost half of its current business is subject to Chinese customs.

Recently, the customs plans have also aroused concern in Brooks Running, which manufactures jogging shoes, as well as in Skechers.

The cosmetics company elf Beauty, on the other hand, has estimated that 80 percent of its products are imported from China.

Many of the companies believe that they will have to transfer the duties directly to consumer prices, because they can no longer afford to haggle over sales margins. Retail sales have suffered for some time now, as consumers have limited their purchases to only essential products.

Some of the US shoe and home appliance manufacturers, on the other hand, are considering moving production out of China to other cheap countries. I saw, for example, the shoe brand Steve Madden.

Trump’s plans are likely to include tariffs of 10-20 percent on all imports and additional tariffs of 60-100 percent on products imported from China.

Tariffs are generally estimated to accelerate inflation even more. The rise in prices and the general cost of living were one of the big themes of the US presidential election.

Concerns about the impact of tariffs on the retail trade and consumer product manufacturers have depressed the share prices of companies in the sector after the election results were decided.

of the United States the National Retail Federation has made an assessment of how tariffs would affect the consumer prices of clothes, shoes, bags, toys, furniture and home appliances.

The union warned last week that U.S. consumers would be the biggest losers from import tariffs, even though the tariffs could boost output for U.S. manufacturers.

Especially low-income families will suffer, says the association in its press release. According to it, consumers’ purchasing power is lost between 46 and 78 billion dollars every year due to tariffs.

According to the report made by the association, the consumer prices of clothes could rise by at least 12.5 percent and at most by 20.6 percent due to customs duties. For example, the price of $80 jeans would increase to $90-$96. On the other hand, a 100 dollar puffer jacket would have a price increase of 12 to 21 dollars.

It estimates that footwear prices will rise by 18–29 percent. For example, $90 sneakers would cost $106-116 in the future.

The price increases for toys can be even higher, i.e. 36–56 percent and for household appliances 19–31 percent.

Correction 10.11. 8:18 p.m.: The story incorrectly stated that, for example, the price of $80 jeans would rise to $90-$106. In fact, their price would rise to $90-$96.