The Hill: Apparel, footwear and retail will greatly suffer if US border tax enacted
From The Hill:
- “House Republicans continue to aggressively push their border adjustment tax (BAT) and, if successful, Americans will soon find it hard to get affordable clothing.”
- “In general, the House Republican “A Better Way” tax blueprint has many excellent attributes. The problem is that the “pay for” is a direct hit on the apparel, footwear and retail industry. It is also a direct hit on the American consumer.”
- Prices on affected goods (98 percent of all apparel and footwear is imported) are projected to rise 20% or more. And will the struggling retailer sector be able to survive?
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