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US-China trade war
Hong KongHong Kong Economy

Trade war ceasefire ‘does not change anything’, US retail boss Rick Helfenbein says as he predicts ugly time ahead for workers and consumers

  • President of American Apparel and Footwear Association says members are still looking to move supply chain away from China
  • Industry group represents 1,000 major brands across the US

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American retailers are considering their options despite the ceasefire amid fears the trade war will begin to bite early next year. Photo: AFP
Denise Tsang
A leading figure in the American retail industry has said the 90-day ceasefire in the US-China trade war “does not change anything”, and businesses will continue to look to source goods elsewhere.

Rick Helfenbein, president and CEO of the American Apparel and Footwear Association, which represents more than 1,000 major brands, said on Monday that his members still faced a “difficult and awkward” situation when it came to their supply chains.

While he said was thrilled with the agreement reached between President Xi Jinping, and his US counterpart Donald Trump at the G20 Summit in Argentina, Helfenbein expects US workers and consumers to begin feeling the effects early next year.
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America imports 41 per cent of its clothing, and 72 per cent of its footwear. Photo: AFP
America imports 41 per cent of its clothing, and 72 per cent of its footwear. Photo: AFP

Although the deal has delayed the imposition of more tariffs on Chinese exports, Helfenbein said the problem had not gone away, and the industry needed more time to adjust, with its buying season ending in February.

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“We’re thrilled they came up with a ceasefire, but the reality is, it doesn’t change anything,” Helfenbein said. “Eight weeks is too short a period of time.”

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