WE ENTER A NEW ERA

Paul Fogleman,

As the reality of a Trump presidency sinks in, it’s time to think about the implications for the hosiery and textiles industries—as well as the U.S. economy. Mr. Trump has aroused passions about jobs that have left the country. He has railed again NAFTA and CAFTA and called out companies that have set up operations in Mexico i.e. Nabisco and Oreo cookies. Will textile companies with plants in Central America and South America be targeted? Will American consumers accept higher prices for goods when cheaper products no longer flow freely into U.S markets?

President-elect Trump also criticized the influence of lobbyists on members of Congress. National retailers, energy companies, agricultural operations, and defense contractors employ thousands of lobbyists—many former employees or members of Congress—to shape tax bills and regulations favorable to their business climate. Will there be a recession on K street?

Especially significant is the upheaval in American politics resulting from the 2016 election. Where will the establishment socially-moderate Republicans go? Without white working class voters does the Democratic party have a future?

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