The fashion industry will also be influenced by the UK’s future industrial and international trade policies. The British Government is very keen to agree new trade agreements outside the EU; the nature of these could vary significantly for the fashion industry. For example, a trade agreement with the USA could be beneficial to trade in fashion services but currently looks unlikely due to the focus of US policy. Another possibility is that the UK agrees a comprehensive deal with India or China. This could benefit British designers who may gain access to cheaper textiles imports but could further hurt UK manufacturing due to the availability of cheaper labour and lower labour standards in these countries.
Read More