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AAFA: Not Good Enough On Tariffs Announcement

The American Apparel & Footwear Association (AAFA) released the following statement in reaction to the Trump administration’s announcement that the punitive tariff rate on U.S. imports of $200 billion worth of goods from China will not increase from 25 to 30 percent as planned.
“While we welcome the President’s decision to withhold an additional tariff increase on many of our products, the reality is that everything currently being hit with punitive tariffs is still being charged,” said Rick Helfenbein, president and CEO of the American Apparel & Footwear Association. “This means Americans are still being burdened with an additional 25 percent on backpacks, handbags, luggage, hats, and gloves. It also means that 92 percent of our clothing, 53 percent of our shoes, and 68 percent of our home textiles imported from China continue to be charged an additional 15 percent tariff. These rates are on top of the hefty tariffs already being charged on these products.
“As we have said throughout this trade war, we do not believe continuing to tax Americans gives us leverage at the negotiating table with China, and it is past time that these misguided tariffs were removed. The continued costs and uncertainties associated with this tariff policy mean the Grinch still has stolen our Christmas.”

The March 2024 Issue

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