Tariffs news and archive

U.S. - China tariff war ramps up this week

Relations between China and the U.S. continue to worsen, with a new round of tariffs on each other’s goods kicking off this Monday. “We don’t want to, but we probably will have no choice,” U.S. President Donald Trump said of the tariff escalation at the Oval Office last week, reported ‘Bloomberg News’. “We’re making a lot of headway with China,”...

Retail

New China tariffs will affect U.S. shoppers

The announcement of the U.S. placing new tariffs on Chinese-made goods is escalating the trade war as China said it has no choice but to retaliate. The new tariffs are set to take effect on 24 September. Jack Ma, chairman of Chinese conglomerate Alibaba, stated Chinese businesses would move production to avoid the tariffs and called for stronger...

Business

US suspends duty-free benefits for apparel from Rwanda

The United States has suspended Rwanda’s trade benefits for apparel products, following Rwanda’s increased tariffs on second hand clothing and footwear imports, according to a statement from the US Trade Representative Office. Apparel imports from Rwanda enjoyed duty-free status in the United States, under the African Growth and Opportunity Act...

Retail

Will luxury stocks be safe from trade wars?

As new global alliances are being formed, others are radically being eliminated, and markets are readying themselves for turbulent times when it comes to fashion exports. With the threat of increased tariffs between formally friendly trading partners the stock market is responding to all kinds of possible scenarios. But not every fashion company...

NewsFeatured

As trade war rages, Trump flags fly out of China factory

As the China-US trade war rages, a factory set amid corn and mulberry fields in central China stitches together US and "Trump 2020" flags -- and business is good. The US and China have slapped tariffs on billions of dollars worth of each other's goods, but there is little evidence of the dispute at the Jiahao Flag Company in Anhui province....

Management|BUSINESS & OPINION Featured

Everyone Loses in a Tariff War

As of June 22, 2018, the European Commission imposed temporary twenty-five percent ad valorem tariffs on certain goods originating in the United States and imported into the European Union. The list of goods affected by these tariffs includes cosmetic preparations, t-shirts, trousers, denim, and footwear, among others. This measure was in direct...

BusinessFeatured

Made-in-USA apparel machinery spared from Trump's tariffs

As Donald Trump proceeds with his potential trade war with China after the 50 billion dollars in tariffs he slapped on them, the U.S. apparel and manufacturing industry is breathing a sigh of relief because thankfully the actual shirts and shoes imported from China won't be subject to the tariffs. However, that doesn't mean economists and...

BusinessFeatured

Clothing brands to see tariffs removed in new TTP trade agreement

As the US and EU continue to battle it out over the Transatlantic Trade Agreement, there is another trade agreement about to take affect which could greatly affect British fashion businesses. The Trans-Pacific Partnership, or TTP, is an agreement between 12 countries, the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand,...