US apparel sector issues caution over new US-China relationship proposal
US apparel sector issues caution over new US-China relationship proposal
The US apparel sector has raised concerns about a bipartisan proposal aimed at resetting the economic relationship between the United States and China. While acknowledging the need for reform, industry leaders warn that the proposed measures could backfire, leading to higher costs for consumers and jeopardizing the livelihoods of millions of Americans employed in the apparel industry.
Points of the Proposal:
Focus on reducing reliance on China: The proposal calls for diversification of supply chains, increased domestic manufacturing, and decoupling from Chinese technology and infrastructure.
Government intervention: The plan advocates for stricter enforcement of trade laws, potential tariffs, and subsidies...