Why a major shift to US clothing production is unlikely [Yahoo! Finance Canada]
Nordstrom, Inc. (JWN)
Last nordstrom, inc. earnings: 3/3 04:05 pm
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Source: Yahoo! Finance Canada
5 min read By Arriana McLymore and Helen Reid NEWARK, New Jersey (Reuters) - President Donald Trump's Made in America push is prompting some U.S. clothing retailers to expand domestic production of everything from T-shirts to coats and suits, several executives told Reuters this week. But limited capacity makes a large-scale shift to U.S. production unlikely, and American-made clothing comes at higher cost because of elevated labor expense and tariffs on materials, the executives said. In a meeting with American CEOs on Tuesday, including the head of Walmart, Trump repeated his vow to cut the 21% corporate tax rate to 15% for U.S. companies making products in the U.S., according to a person familiar with his remarks. He also defended his use of tariffs on imports and said they could multiply. "We are getting a ton of inquiries from (U.S. retail) brands looking to reshore" by bringing production back to the U.S., said Mitch Gambert, owner and chief executive of Gambert Shirt
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