As President Trump sets his sights on trying to rejoin the Trans-Pacific Partnership amid economic saber-rattling with China over possible tariffs, retailers in the U.S. are aligning forces with other business segments to urge lawmakers to tread easy on the trade front.The worry about tariffs being imposed on both sides of the Pacific is that in the end, it's the consumer who will lose out. And it means less spending on goods and services.Levi Strauss & Co. chief executive officer Chip Bergh said his company is bracing for a potential trade war between the U.S. and China. Last week, he told WWD that as tariff threats increase, apparel and footwear could eventually be pulled into the fray. Right now, these segments are off-limits.Bergh said from a broader perspective, a trade war with China "would not be a good thing, the consumer is going to get impacted. Think of that as higher cost coming into the U.S. that will ultimately get passed along to the consumer by many of these manufacturers, so it won’t be good for the U.S. economy, it won’t be good for the U.S. consumer.”Which is the exact sentiment of more than 100 industry associations that inked a letter to the chairman and ranking member of the House Committee on Ways and Means urging lawmakers to "quickly mitigate" the trade situation with China. Even after Chinese President Xi Jinping told business leaders at a conference last week in Asia that the country would reconsider tariffs while looking to open up trade to the rest of the world, U.S.-based associations such as the National Retail Federation, the American Association of Exporters and Importers, the North American Meat Institute and the United Egg Producers urged Congress "to work to ensure that U.S. families are not forced to pay the price for China’s bad behavior."The coalition of associations and trade organization, which also included the Distilled Spirits Council, the Farmers for Free Trade, the Halloween Industry Association and the Retail Industry Leaders Association, told the Committee on Ways and Means that as they "are aware, tariffs are hidden, regressive taxes that will be paid by U.S. businesses and consumers in the form of higher product prices.""While the administration has signaled that the proposed tariffs are intended to inflict maximum pain on China and minimal pain on the U.S. consumer, unfortunately, that is not the case," they wrote. "Many of the products that are currently on the proposed U.S. tariff list are consumer goods. Even more troubling the proposed list includes machinery, parts, chemicals and components that U.S. manufacturers and their workers need to make American products. This will impact downstream industries who rely on these materials and will ultimately result in higher prices for consumers for essential everyday products."The letter went on to note that higher costs for manufacturing will "result in less production here in the U.S. If imposed, these tariffs will result in higher prices for American consumers and fewer jobs for American workers."The coalition wants Congress and the administration to figure out a plan and create and execute a "strategic policy" aimed at addressing the "longstanding problems in China.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion