A study Impacts of Section 301 Tariffs on Imports from China: Case Studies of Apparel, Footwear, Travel Goods and Furniture has called out the ‘detrimental economic impacts’ of the massive tariffs imposed on consumer goods from China, saying that the trade war has led to higher costs and prices for American companies and families. It also said that shifting away from China as a source of goods was costly and ‘not always successful’. [Joint Industry Study Flags Negative Impacts of Section 301 ... - AAFA]
The US has imposed three rounds of steep tariffs on more than US $ 300 billion worth of Chinese imports, citing Section 301 of the US Trade Act of 1974.
Published by the American Apparel & Footwear Association, the Footwear Retailers & Distributors of America, the National Retail Federation, the Retail Industry Leaders Association, and the United States Fashion Industry Association, this study has provided an in-depth assessment of the impact of the Section 301 tariffs over the last four years on US imports of four categories of goods — apparel, footwear, travel goods and furniture — imported from China.
The tariffs have led to a host of significant indirect costs, including those associated with attempts to establish bifurcated supply chains.
