With fashion struggling through supply shortfalls, crowded ports and supply chain troubles that have been exasperated by COVID-19, the industry’s Washington contingent has zeroed in on the mega infrastructure bill working its way through Congress.
Industry Leaders Association. “The [Biden] administration is approaching China with a much different strategy, one that is more diplomatic.”
As the Biden administration engages with China, tariffs could come back on the table, and industry lobbyists will be pushing for reductions. Retailers are also looking for some backup from Washington as they square off with online marketplaces, where they say counterfeits and criminals are taking a bite out of their businesses.
“You used to have to sell stuff out of the trunk of your car, in a flea market, in a way that would raise the antenna of most honest people,” said Dodge, noting that goods sold through online platforms can look legit to shoppers even if they are stolen or fake. “That would be a 33 percent increase in the tax rate for the corporate tax payer,” noted David French senior vice president of government relations at the National Retail Federation. “Since retailers pay at the highest effective rates in the economy, the burden of that tax increase would be felt most heavily on those retail businesses.” The textile industry, which is so often at odds with the importers, has its own Beltway agenda.
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