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Jeans may be casualty of trade war

The basic blue jean may become entangled in a trade war between the US and its allies.
Following the start of US duties on imported metals from EU, Mexico and Canada, denim brands expressed their concern that tariffs will be placed on goods like jeans and consequently could raise prices for consumers worldwide.

The US has imposed a 25 per cent tariff on steel imports and a ten per cent tariff on aluminum imports from the European Union (EU), Canada and Mexico, ending a two-month exemption.

The EU says it would respond in a firm and united manner to the tariffs.

Levi Strauss & Co. will work with industry peers to raise awareness of how the tariffs will affect their business, consumers and the people across their supply chains. Levi’s has called for open markets and free trade where everyone plays by the rules.

Abercrombie & Fitch has been taking steps to reduce its dependence on China and increase the agility of its supply chain. The turnaround appears to be taking effect. Net sales for the first quarter were up 11 per cent with comparable sales ahead five per cent.

Unilateral tariff impositions risk retaliation and destabilizing the global economy, in which case American brands, workers and consumers will ultimately suffer.

 
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