Expect these round ups only if/when there’s more than enough “somethings” relevant to affordable men’s style.
- EU: Late last week the President threatened the EU with a 50% tariff starting June 1st… and then promptly delayed that until July 9th – CNBC
- This would clearly affect shoes, clothes, and accessories made in Italy, Portugal, Spain, etc.
- It could also impact European leathers such as the ones Allen Edmonds often uses for (among other models) their “Handcrafted in Port Washington, Wisconsin” shoes made with “Ultra-refined, premium European calfskin.“
- The original “liberation day” (April 2nd) so-called “reciprocal” tariff on EU goods was 20%…
- But that quickly got reduced to 10% for 90 days, and is currently active.
- So what was originally 20% back in April was reduced to 10% until early July but then last week it was threatened to get raised to 50% next week but that has been delayed until the month after next which is when the original 20% was supposed to reactivate following this 90 days of 10%.
- Switzerland (watches): Two weeks ago the Swiss said they’d present a proposal to the US within… two weeks. – Hodinkee
- China: Due to multiple layers of tariffs, the true tariff rate on many Chinese goods now ranges from 40% to 70%. – CNBC
- Nike has said they’ll start to raise some of their prices this week – Reuters
- Ralph Lauren plans to raise prices due to tariffs – WSJ
- Wal-Mart has said they’re raising prices on some goods… – Fox Business
- Target has warned of “massive potential costs” due to tariffs, but said raising prices would be a “very last resort.”– ABC
- Watch brand VAER said in their latest “Founder’s Update” email: “despite our relatively strong position compared to many brands, the increase in tariffs WILL ultimately translate to an increase in our retail prices—this is unavoidable.”
Also worth a listen for those interested: