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After weeks of uncertainty and volatility, the Trump administration announced a surprise agreement with the Chinese government Monday morning, lowering tariff rates from a high of 145% down to 30% and pausing them for 90 days. A permanent deal has not been reached, and this agreement was acknowledged by both parties as a temporary peace.
It’s a welcome relief for fashion brands that were panicking at the thought of having to eat the 145% tariff rate. But a number of brands Glossy spoke with characterized the announcement as clearly a stopgap measure. After dealing with weeks of mixed messages and frequent policy changes from the government, brands are wary to accept any new announcement at face value.
“This new ‘truce’ is welcome breathing space but not a green light to change direction,” said Ira Lysa, CEO of New Jersey-based tailoring company Imperial Alterations. “The uncertainty has rattled corporate confidence.”
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English (US) ·