The famous New York clothing district is preparing for impact as President Trump pricing Start waving in the clothing industry.
For Lyn and Lisa Alessi, Co-founders and co-PDG of Alessi International, an importer of local fabrics representing factories in Asia and Europe, prices could pose significant challenges to their business, which works with international partners to produce fabrics for high-end clothing companies.
“I have all my customers braking, asking,” What are we going to do? How are we going to manage this? Where can we move production? “” Said Lyn Alessi, who started selling luxury fabrics in 1989.
According to the American Apparel and Footwear Association, 97% of clothing and shoes sold in the United States are imported. Most of these articles come from China, India and Vietnam, according to the World Bank.
The Trump administration confirmed on Thursday that certain Chinese products will be subject to “reciprocal prices” reaching up to 145%, while imports from Vietnam and India face rates of 46%and 27%, respectively. Mr. Trump suspended prices In most countries for 90 days to give more time for commercial talks, but samples from China remain in place.
The assault of new American rates has increased import taxes to their highest level in more than a century, Mr. Trump praising politicians as a means of revitalizing national manufacturers.
For the Alessi sisters, this additional tax on imports will have an impact on almost all aspects of clothing production, resulting in higher costs for the company and for consumers. They predict that this will lead to buyers looking for alternative clothing options.
“A Veronica Beard jacket was $ 800. Now it will be $ 1,000. And that withdraw it from the market. The used market will prosper,” said Alessi.
At the bottom of the Alessi International block, the production of clothing, a manufacturing group that has survived the high and bottom of the industry since its foundation in 1948. The company, co -owner by Karen Sadaka and Teddy Sadaka, works with brands such as Calvin Klein, Ralph Lauren and Kenneth Cole, but most of the plants closed the jobs of clothing were dropped.
“We had factories in North Carolina, South Carolina, Tennessee, Alabama and Kentucky,” said Karen Sadaka. “It was not a problem. Today, they are all bankrupt.”
Today, the average age of clothing workers is 50 years, and filling these jobs with their retirement is likely to be difficult. Sadaka said it was too son to say if Mr. Trump’s prices will stimulate domestic production, but she fears that change “is too fast”.
contributed to this report.