London - The UK's knitwear industry has been dealt a significant blow with the news that the shipments to the US will be hit with an additional 25 per cent tariff.
The US authorities this week confirmed that 17 fashion and textile product lines will continue to be subject to the punitive tariffs which were first introduced in October 2019 as part of a long running dispute between the US and the EU over subsidies to the aircraft industry.
Lamenting the tariff decision as hugely disappointing news, Adam Mansell, CEO of UKFT said the impact of the additional tariffs have been devastating for UK manufacturers selling to the USA. "We are the only country to be hit with tariffs on fashion products and the current situation piles even more pressure on companies already reeling from the impact of Covid-19 and the hugely uncertain trading situation with the EU," he said. "Waiting for the outcome of a potential free trade agreement with the US isn’t enough. We need the government to take direct action now to support our manufacturing industry.”
