Once a new administration is in place, policy shifts and legislative changes may have wide-ranging impacts on the industry, both at home and abroad.
Laurel Deppen and Lara Ewen | November 6, 2024
At New York Fashion Week in September, designers encouraged consumers to vote and leaned heavily into the all-American trend that’s helping to redefine what domestic fashion is and could be.
Tuesday’s election will determine how all of that energy gets translated into policy and what shape that policy will take over the next four years.
As the balance of power shifts in Congress and the White House, the fashion industry may be facing some significant changes, both at home and abroad. Here are some of the main topics on the table for the next administration.
Imports and tariffs
Nearly 98% of apparel consumed in the U.S. is imported, according to the United States Fashion Industry Association. That means the next administration’s approach to import tariffs will affect the fashion industry’s bottom line.