Donald Trump has implemented a 90-day suspension on the extensive, country-specific tariffs that he announced last week, with the notable exception of China. This unexpected decision has resulted in a significant increase in the market values of several fashion stocks on Wednesday. Instead of the previously proposed higher duties, many of which heavily impacted apparel manufacturing countries, the United States will now enforce a uniform 10% tariff across all trading partners while raising the tariffs on China to as much as 125%. Following the sharp decline of stock prices among numerous fashion companies last week, we are now witnessing a temporary recovery. Notably, shares of Capri surged over 30%, while VF Corp, the parent company of Vans and Timberland, saw a rise of 28%. Other brands such as Levi’s, Ralph Lauren, and Nike also experienced gains of 20%, 14%, and 11% respectively.
Fashion Stocks Experience Significant Gains Following Trump’s Tariff Suspension for All Countries Except China[Business of Fashion]
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