On February 4, 2025, the United States Postal Service announced that to comply with new tariffs and the repeal of the de minimis exemption, it would be suspending international package acceptance of all parcels inbound from Hong Kong and mainland China. The suspension lasted for less than a day, but raised widespread concerns about the potentially catastrophic impact of these changes on the fashion industry.
What are tariffs?
Simply put, a tariff is basically a fee that Country A levies on imports from Country B. The goal is to raise the price of imported goods from Country B to ensure that Country A’s more expensive domestic goods remain competitive. In short, tariffs are a somewhat heavy-handed form of market manipulation (economists call it protectionism) that pass costs down to the consumer.
During his first term as president, Donald Trump implemented tariffs on a wide range of…
Read the full article originally published at www.eco-stylist.com.