Mexican Tariffs Would Be Bad News For Denim Retailers
President Donald Trump’s surprise vow to slap new tariffs on Mexican goods could end up hurting retailers, which are already threatened by the ongoing tit-for-tat trade war between the U.S. and China. The U.S. is set to impose a 5% tariff on all Mexican imports on June 10, Trump announced on his Twitter account Thursday evening. One of the biggest victims of the new Mexican tariffs in the retail industry could be jean makers. Mexico is the biggest supplier of men’s and boy’s jeans to the U.S., representing about 35% of imports, according to the American Apparel & Footwear Association. The country South of the U.S. border is overall the eighth-largest supplier of apparel and the seventh-largest supplier of footwear to the U.S. market, AAFA said. Read more at CNBC.
