WASHINGTON – New analysis of global sourcing patterns suggests the cost of purchasing apparel in the US would increase by an average of 5 per cent if the US presses ahead with plans to slap 25 per cent tariffs on US$300bn worth of Chinese goods. The research also claims footwear in the US would increase in price by 8 per cent as buyers struggled to find alternate sourcing destinations which could match China in terms of price and quality. “The proposed tariffs, especially at 25 per cent, would be too large for US retailers to absorb and, once passed on, would result in prices higher than many consumers would be willing to pay,” says the research.
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