WWD quoted Stephanie Sheridan in a January 11 article titled "Dems in Congress Could Boost Biden Admin's Agenda." The article discusses how a new administration increasing merger oversight and collaborating on trade would face less resistance from Democrats steering Congress. One of the significant shifts that the retail industry is expecting is in the area of trade policy, a notable area of consternation for apparel retailers over the last four years, as they contended with abrupt tariff increases. The next administration is expected to take a less aggressive approach, though it is not expected to undo existing tariffs right away.
Sheridan, who chairs Steptoe's Retail and E-Commerce group, says, "The Biden administration is going to tread carefully and go slowly, but expect over time some of that pressure will go away and the tariffs will decrease."
The full article can be read at WWD (subscription required).