For the second consecutive year, protectionist trade policy agenda in the US has been considered as a major challenge for the fashion industry, says a recent survey by the United States Fashion Industry Association (USFIA). Concerned on the rising production or sourcing cost, 60 per cent of the respondents have ranked this issue among their top 5 challenges.
As the fashion industry becomes more globalised and fast-paced, companies’ sourcing decisions are increasingly striking a balance. The most popular sourcing strategy remains 'China plus Vietnam plus Many'. But, more companies are planning to further diversify their production in response to the changing business and trade policy environment, especially with regards to China, according to the USFIA's fifth annual Fashion Industry Benchmarking Survey.