By Evan Fallor

The number of fashion executives who said they feel optimistic about the state of the fashion industry has fallen due to concerns over U.S. trade policy and online shopping, the U.S. Fashion industry Association said in a new report released on July 20.

According to the fourth annual fashion Industry benchmarking study released by the USFIA, 71% of executives said they are optimistic about the five-year outlook for the fashion industry, a drop from 92.3% in 2016. The statistic represents a record low since the organization began releasing the annual survey in 2014.

The association attributed this new low in part to what it called a "protectionist" trade policy agenda in the U.S. as well as competition from online sellers and uncertainties in the world economy, including China's economic slowdown.

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