While many people are still enjoying the last days of summer, there are those who are already searching for Ugly Christmas Sweater online. It seems that they are worried that the ugly Christmas sweaters may be unaffordable come Christmas time with a new tariff price hike before the holiday season. Normally, Christmas goods do not arrive until September or October but retailers have ordered early.
Meanwhile, Trump and his economic advisers are attempting to save Christmas. An announcement early this month said that tariffs on some Chinese goods will be delayed under December 15. For companies like American Eagle, Abercrombie and Macy’s, retailers and department stores, it means that their products will not be taxed until December 15.
However, according to new data breakdown from Apparel and Footwear Association (AAFA), 91.6% of imported Chinese apparel will still be hit by the 15% tariff that started September 1. The group also said that 68.4% of home textiles and 52.5% of footwear will be experiencing tariff price hikes.
AAFA executive vice president, Stephen Lamar said it will be extremely difficult to move this amount of products because of capacity limitations in other countries. There is also a need to build new relationships and to make sure that companies comply with product safety and labor regulations. There is also the fact that almost every industry is being asked to move simultaneously.
Retailers like Best Buy, Macy’s and Home Depot are implementing several strategies to minimize the impact of tariffs. One of the strategies is to move their factories, suppliers or vendors out of China. Since t-shirts with less than 70% silk were hit by tariff hikes on September 1, companies have decided on making t-shirts that are made entirely from silk. Without mitigating strategies, companies will be facing higher costs.
Christmas is not complete without the Ugly Christmas Sweater with the naughty and nice theme. Even people who are not celebrating the holidays are wearing the ugly Christmas sweaters to parties. When it comes to ugly sweater, the possibilities are endless. You can be as funny as you like or naughty as long as it represents the Christmas season.