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Quick Take: The Impact of Tariffs on US Retail

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Coresight Research

Key Points

In this report, we review the import tariffs imposed by the US and China and their implications on the US retail industry.

  • Consumer goods were excluded from the tariffs the US imposed on Chinese imports until July 10, when US President Donald Trump announced another list of product categories, worth around $200 billion, to which tariffs will apply. This new list includes apparel.
  • China accounted for 37% of US apparel imports and 56% of US footwear imports in 2017, according to the US Department of Commerce.
  • There is a strong negative correlation between Chinese textile surplus and US textile jobs.
  • In-demand brands look best positioned to pass on the costs of the new tariffs to consumers.
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