Will the tariffs on luxury goods force us to look at 'Made in Britain' initiatives?
US duty customs are set to impact luxury goods. Tariffs from the US have come for the UK and many large brands are speculating how the Government and consumers will react.
Last month, I was interviewed for Euronews on how Trump’s levies would impact fast-fashion brands which are made in China and sold to the US. Fast-fashion brands were taking advantage of a loophole called ‘de minimis’ which allowed for packages under $800 to enter the US without duty. While Trump’s 10% levy on goods made in China and sold to the US closed that loophole, it was noted that fast-fashion brands were easily able to absorb these costs. Smaller brands would in fact be hit harder, and may have to change a product’s structure and production process, by getting different components from different countries before assembling for example.
A month later and the headlines from Trump’s administration are threatening how the US tariffs will impact luxury goods closer to home, both in the UK and Europe.
 | A guest post by
|