In general, fashion and politics don’t intertwine, but when a new world leader comes into power they can have a huge impact on international trade and economic policies which can have a detrimental effect on the fashion industry. Trump has proposed a number of radical changes that could diminish globalisation, including getting rid of Trans-Pacific partnerships. Below are 5 possible ways having him as president may affect the American Fashion Industry
1. The stocks of European retail companies are down from Prada to L’Oreal.
2. International brands may take a blow from higher taxes on foreign goods.
3.Trump has regularly made controversial comments about immigrants, particularly those from Mexico or the Muslim world. Let’s remember that America is a country of immigrants, and the American fashion industry in particular is built on the work of immigrants and their offspring.Alexander Wang is of Taiwanese heritage and Vera Wang is from China. Ralph Lauren was born in New York to Ashkenazi Jewish immigrants. And that’s not even the tip of the iceberg. There are many other designers and thousands of garment workers, artisans and other people that the fashion industry needs including Mexican Americans and Muslim Americans.
4. The CEO of Oscar de la Renta Alex Bolen spoke out about the election results saying ‘Our fundamental job as designers is to suggest a way to dress that is an appropriate reflection our times, of the world in which we live right now’. Last night, the American people expressed their strong desire for change. Fashion will need to react, in a likewise strong way, to that new mood. We look forward to the challenge’. And he is right, it will be interesting to see the ways in which the industry expresses this shocking result.
5. The industry may now have to start looking past commercial gains and focus on what is good for humanity as well as being beautiful and innovative.
So Trump is the new president of the USA, here’s hoping Trump will see the importance of the fashion industry and be supportive of trade policies and initiatives to keep things global.