Underwear and the Economy – My Thoughts

I know this isn’t the most captivating post for UNB, but there is a lot happening in the world that I feel I need to address. I considered doing a podcast to discuss this, but I wasn’t sure who could help explain these topics without it sounding like I’m just complaining. So, I’ve decided that writing a post would be the best way to express my thoughts and frustrations. Yes, this may get a little political, which is not typical for me here, but I can’t remain silent about my opinions.

Tariffs

First off, tariffs are foolish and damaging to the world economy. As we’ve seen here in the United States, the stock markets have crashed and continue to decline daily. Tariffs make no sense, and there are better ways to achieve economic goals. Most people in the U.S. view them as ridiculous and detrimental to businesses, especially small businesses. According to Mark Cuban, 21,000 companies employ over 500 workers, which means there are 32 million small businesses that cannot compete in the current tariff environment, out of 33 million total companies.

How Will This Affect Underwear?

Prices will rise globally. I’ve heard that people outside the U.S. are paying more in tariffs and duties than the actual cost of underwear. Most brands outsource their production outside the U.S., meaning that everything coming in will be taxed. Even those that produce in the U.S. purchase materials from abroad. It’s unclear how much prices will increase; we will have to wait and see what happens in the next month or two. As a small business selling underwear, I’ve seen fluctuations in my sales, and there has been a significant decrease in orders from Europe and Australia. This is having a direct impact on my business.

Boycotting Brands

Firstly, I don’t want to make judgments about whether you should or shouldn’t boycott brands, especially if you’re outside the U.S. If the situation were reversed, I would likely take similar actions. If you feel you can’t support American brands, that is a personal choice you must make, and I cannot fault you for it. Please remember that every one of those brands is just as frustrated as you are. Unfortunately, some brands may not survive if this situation persists for an extended time. I spoke with a brand this week that lost a customer in Canada. They understood the customer’s decision not to carry their products but have since stopped responding. It’s important to keep an open dialogue with the brands you may be distancing yourself from during this crisis. Most of them realize this situation isn’t personal and want to maintain relationships. Don’t blame them for circumstances outside their control. Once this is over, they will want to resume business with you. It’s frustrating because so many people and businesses are suffering due to these policies. I fully support my Canadian friends and understand their decision to remove U.S. products from their shelves, sending a strong message about how our government has treated one of our best allies.

A Lose-Lose Situation

This entire situation is a lose-lose for all parties involved, both in the U.S. and around the globe. It’s a needless economic tactic that will backfire and cause more harm than good. There is no easy solution, and we don’t know how long this will last. I encourage you to reach out to your American friends to show support for the people, not the misguided policies of our government. Likewise, Americans should connect with friends around the world to gain perspective and engage in dialogue. It’s crucial to understand both sides. I support you all in whichever decision you make. As I mentioned, there is no straightforward answer; you must do what is right for you, your country, and your wallet.