President Trump has a habit of jumping from one political issue to another, but trade is one area the still-new administration has consistently trained its eye on.In an attempt to put Trump’s “America First” campaign slogan to work, the early days of the administration seemed open to the prospect of a Border Adjustment Tax proposed by the House last year that would see companies taxed partially based on the amount of products they imported.The idea of a policy agenda aimed at forcing U.S. companies to manufacture goods domestically was anathema to apparel companies, which have a majority of their production abroad.Retailers were quick to start pushing back and the National Retail Federation labeled the BAT as essentially a $5.6 billion tax on the American consumer, claiming such a policy would undoubtedly increase the cost of goods.Some of the biggest merchants in the U.S., including Amazon, Wal-Mart Stores Inc., Target Corp. and Nike Inc., took lobbying into their own hands during the first months of the administration and spent millions to make their stance on issues like trade and taxes known.While David French, the NRF’s senior vice president for government relations, said the efforts “have been very effective,” he admitted that the proposal “will not be truly dead until we see a tax bill in the House that does not include it.”Secretary of the Treasury Steven Mnuchin has said the Trump administration wants a tax-reform bill done by the end of the year, but that seems less and less likely as the Trump administration has failed to get its health-care or immigration agendas off the ground.The North American Free Trade agreement is also in the process of being renegotiated, after Trump initially said he wanted to pull out of the trade pact, like he did with the Trans-Pacific Partnership. But retail groups again made clear their support for the deal. As for the populist wave that Trump rode into the presidency, it appears to be splintering into a force more concerned with nationalism than economics and leaders in the retail and apparel industry are uncomfortable.Under Armour chief executive officer Kevin Plank and Wal-Mart Stores Inc. ceo Doug McMillon, who both have voiced support for Trump’s “pro-business” attitude and joined his Manufacturing Advisory Council, took his delayed and mild response to the violent gatherings of white nationalists and supremacists and counter-protestors in Charlottesville, Va., as reason to start pulling away from the presidency.Plank decided to leave his seat on the White House's American Manufacturing Council and McMillon released a statement critical of Trump’s reaction, saying “he missed a critical opportunity to help bring our country together by unequivocally rejecting the appalling actions of white supremacists.”Despite his take on the president’s response, McMillon said he was staying on the council. Trump subsequently disbanded the group, along with his Strategic and Policy Forum, aimed at creating jobs and stimulating the economy, saying on Twitter that he didn't want to “pressure” businesspeople.The disbanding came less than a day after Trump tweeted he had “many” executives to take the place of those who had left his councils.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion