1300 ET - There are few places to hide if April 2 tariffs hold, William Blair analysts say in a research note. Either way, the purpose of the tariffs seems to be built to hobble the apparel industry, the analysts say. The highest tariffs target regions that in aggregate represent about 50% of apparel imports and a weighted average tariff of some 32% are now levied against countries that are the source of close to 85% of apparel imports, according to 2023 data. Many retailers moved part of their production away from China to India, Pakistan, Bangladesh and Vietnam, regions that were hit by some of the highest new tariffs. Among William Blair's coverage, Vietnam was the primary recipient of production, most notably for On Holding, with 90% of footwear made there. Lululemon and Abercrombie & Fitch follow, with Vietnam's cost of goods at 40% and 35%, respectively.(sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 03, 2025 13:00 ET (17:00 GMT)
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