How Trump’s Trade War Will Boost Clothing Prices

In The Daily Scoop by Lauren Parker, Accessories MagazineLeave a Comment

The second year into his presidency, he’s clashing with business leaders, including those from retail and fashion. The current dispute — it’s not Trump’s only disagreement with business leaders — started after the president’s decision in March to impose a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum. (A tariff, or duty, is essentially a tax placed on goods made overseas, and ultimately consumers pay the price.) At the time, Matthew Shay, president of the National Retail Federation, a trade group representing retailers from the US and other countries, said Trump had an “apparent desire to ignite a trade war.”

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