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Tuesday, January 24, 2017

President Trump SOURCING at MAGIC

The Impact of President Trump and International Relations

With President Trump now firmly in office, SOURCING at MAGIC will take a look at how the Trump administration may impact various free trade agreements and international trade relationships, at this February’s show in Las Vegas (February 20-23, 2017). 
  • President Donald Trump is expected to sign an executive order as early as this week stating his intention to renegotiate the free trade agreement between the United States, Canada and Mexico.
  • Last week, press secretary Sean Spicer said that President-elect Trump would not wait for Congress to confirm trade officials to withdraw from the Trans-Pacific Partnership trade deal. He has called the trade deal "a potential disaster for our country."
  • Experts at SOURCING at MAGIC will analyze these issues and the cause and effect between the supply chain and recent challenges in the global economy, such as the elimination of TPP, the continued rise of costs in China and trade issues between the U.S. and China. They will also provide insight on what you can expect moving into 2017.  
Known for always staying ahead of the trends, SOURCING at MAGIC will also highlight the bustling region of Africa with multiple factories and seminars at this February’s show.
  • Over the past couple years, serious interest in African countries as a major sourcing destination for apparel has grown. With the recent renewal of the African Growth and Opportunity Act (AGOA) through 2025, which allows certain countries in sub-Saharan Africa duty-free access to the US market, the buzz around Africa has become even louder.
  • Major companies including PVH, VF Corp, H&M, Primark and Tesco began sourcing a portion of their garments from this region a few years ago and it quickly made its way to the forefront as a region of opportunity for many apparel brands.
  • Africa offers a great solution for cost sensitive orders and the ability to create high quality products that are not time sensitive.
SEMINARS: 

POST ELECTION: TRUMP AND TRADE: Into the first month of the new administration, what will be the impacts on various free trade agreements and international trade relationships? Join our distinguished panel for insights into how this will affect the fashion industry.
  • MODERATOR: Julia Hughes, President, U.S. FASHION INDUSTRY ASSOCIATION
  • SPEAKERS: Jon Fee, Sr. Counsel, ALSTON & BIRD; David Spooner, Partner, BARNES & THORNBURG
  • Tuesday, February 21 at 1:00 IN LVCC, ROOM N251
FOCUS ON AFRICA: CHALLENGES AND OPPORTUNITIES: Why is fashion sourcing shifting to Africa? What are the innovative and socially responsible producers offering? How does the AGOA Free Trade Act benefit U.S. companies producing fashion in Africa? This focus session provides the answers!
  • MODERATOR: Julia Hughes, President, USFIA
  • SPEAKERS: Matt Priest, President, FOOTWEAR DISTRIBUTORS AND RETAILERS OF AMERICA; Steven Lamar, Executive Vice President, AMERICAN APPAREL & FOOTWEAR ASSOCIATION; Clay Hickson, V.P. Strategy and Business Development, WORLDWIDE RESPONSIBLE ACCREDITED PRODUCTION
  • Tuesday, February 21 at 3:30 IN LVCC, ROOM N251
For a full list of seminars at MAGIC, visit http://www.ubmfashion.com/show/76/schedule

Thank you for taking the time to read our fashion industry blog post. We hope that you have found this news to be informative.  How will President Trump effect the fashion industry? If you have comments or questions, please add your thoughts in the discussion area below.

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