The International Bridal Manufacturers Association has announced that the US government is proposing a 25 per cent tariff increase on any bridal, formalwear and dresses that are imported from China (an estimated 80 per cent of bridal gowns are manufactured in China), which will potentially effect over 2.5M weddings in the States.
“If this proposed tariff on approximately $300 billion worth of Chinese products goes through, the US government will make tons of money, but our brides, couples, wedding guests, and industry as a whole, will suffer greatly,” says Lauren Grech, CEO of LLG and Adjunct Professor of New York University.
Courtesy of Loft Studio
“The cost of wedding dresses, bridesmaids dresses and formalwear will increase dramatically, as well as the wholesale prices, causing an economic crisis on the industry as a whole. Many of the 6,500 independently-owned bridal salons will go out of business, and tens of thousands of people will be out of jobs in the US. This will directly reverse the industry growth we’ve seen over the last five years, and effect millions of American families during what should be the happiest moments of their lives.”
With the potential hike in consumer prices, the economic impact on the US bridal industry will not only see wedding gowns effected, but bridesmaid, groom and guest attire as well.
"So we're left with two choices. Either the retailers find a way to cover the cost, leaving many in extreme economic hardship, or the customer will be left to cover the cost of this tariff in order to get their wedding dress from US Customs," adds Grech.
But will this tariff be approved? Watch this space.
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