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A Christmas Gift To Hosiery Manufacturers

A Christmas Gift To Hosiery Manufacturers

    But it's more of a gift to stocking, pantyhose and hosiery manufacturers (and consumers) specifically, Chinese stocking, pantyhose and hosiery manufacturers. 

    This past week the Trump administration delayed the introduction of punitive tariffs on products where China's market share was exceeded by 75%. Basically gifting American consumer's low prices on the affected products over Christmas time.

Approximately 70 apparel products were on this list, for a total import value of $2.4 billion, but of those 70 products, stockings, pantyhose and hosiery constituted $1.2 billion or about 48% of the preferred imports.

    It is past time that China follow the US example. The current tariff on these products averages 14.6%. Moving production to Jordan or one of the AGOA (African Growth & Opportunity Act) beneficiary countries - with duty free access to the US market using third country materials - would not only save US importers $116 million in the new added tariffs, it would save them $170 million in existing tariffs.

    So the new Trump initiative has given China's stockings, pantyhose and hosiery manufacturers necessary time to move to a new location with little or disruption.