USA-Fashion Industry/Tariffs

Tariff fears loom over New York Fashion Week

  • English
  • العربية

Shotlist


New York City, USA - Sept 7, 2018 (CGTN - No access Chinese mainland)
1. Staff hanging clothes
2. Vivienne Hu, designer, talking on phone
3. Staff hanging clothes
4. Hu talking on phone
5. SOUNDBITE (English) Vivienne Hu, designer:
"Of course, we do budget planning -- a lot of very strict budget planning. We will check what's going on with the next step. If it turns out it is over our budget, we will definitely find a better solution."

New York City, USA - Sept 8, 2018 (CGTN - No access Chinese mainland)
6. Various of models on catwalk at fashion show of Taoray Wang
7. Audience
8. Models on catwalk
9. SOUNDBITE (English) Wang Tao, designer, Taoray Wang (starting with shot 8):
"It's slightly different because I don't open a lot of shops on the street. I am doing made to measure - made to order - made to measure [style of business], so maybe it doesn't really affect my business."
10. Various of models on catwalk
11. Audience
12. Various of models on catwalk

Storyline


Fashionistas have descended upon the New York City to check out the latest looks from the world's top designers but this year the mood is somewhat subdued as it marks the first fashion week since the implementation of tariffs on Chinese imports.

Some brands are worried that clothing made in China could be the next target. That would have big implications for the fashion industry.

The New York Fashion Week is in full swing with designers from around the world showcasing their latest looks. Many of the garments on display will be made in China, which accounts for roughly 36 percent of global clothing exports in 2017.

Other countries like Bangladesh, Vietnam and India also manufacture a lot of what the audiences see on the catwalk, but China is still king when it comes to American clothing imports.

The fashion industry is starting to feel the chill from the trade war started by the administration of President Donald Trump. Roughly 35 billion U.S. dollars' worth of clothing made in China is exported to the U.S. every year. While clothing has largely been excluded from the list of targeted items, the worry is that could change.

Just last week, Trump threatened to slap tariffs on another 267 billion dollars' worth of Chinese goods. That is on top of the 200 billion dollars' worth he's already targeted. If he follows through with his new threat, everything imported from China, including clothing and shoes, would be subject to tariffs.

According to a new poll by the U.S. Fashion Industry Association, two-thirds of large-sized U.S. retailers are planning to reduce the amount of goods they buy from China.

The reaction among Chinese designers showing at the New York Fashion Week was mixed.

Vivienne Hu, who makes some of her garments in China and some in New York, said the U.S. is her biggest market. If clothing manufactured in China gets hit with U.S. tariffs, she would consider shifting production out of China to other countries.

"Of course, we do budget planning -- a lot of very strict budget planning. We will check what's going on with the next step. If it turns out it is over our budget, we will definitely find a better solution," she said.

For Wang Tao — the designer of Taoray Wang, a trade war is less of a concern. Her biggest market is China. She is also shielded from retaliatory tariffs China might enact as none of her clothes are made in the U.S.

"It's slightly different because I don't open a lot of shops on the street. I am doing made to measure - made to order - made to measure [style of business], so maybe it doesn't really affect my business," she said.

A trade war between China and the U.S. that includes clothing will surely hit some designers harder than others. Shifting production out of China is not done easily, or quickly. But perhaps the biggest casualty would be U.S. consumers who would likely see prices rise.

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  • ID : 8090446
  • Published : 2018-09-12 14:30
  • Last Modified : 2018-09-12 19:46:17
  • Location : United States
  • Category : economy, business and finance
  • Duration : 1'20
  • Audio Language : English/Nats
  • Source : China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Version : 1
  • ID : 8090446
  • Published : 2018-09-12 19:18
  • Last Modified : 2018-09-12 19:46:17
  • Location : نيويورك,الولايات المتحدة
  • Category : economy, business and finance
  • Duration : 1'20
  • Audio Language : الإنجليزية/الصوت الطبيعي
  • Source : China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Version : 1
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