Around a month ago, Donald Trump turned his favourite word ‘tariffs’ into a much-feared reality. The result? Panic in the fashion world, stock market prices that are trembling, and brands that are frantically calculating price increases in Excel spreadsheets. Because one thing is certain: ‘new’ will soon be a lot more expensive. But while brands...
Apr 25, 2025
Chancellor Rachel Reeves has outlined a plan to mitigate the impact of “practices that undercut fair trade” which will include a review of the customs treatment of Low Value Imports. The law currently allows for goods valued at 135 pounds or less to be imported without paying customs duties. Some retail giants, however, have called for this to...
Apr 24, 2025
On April 2, US President Donald Trump announced an unprecedented series of import duties, which could amount to 54 percent for fashion imports from key production countries such as China and Vietnam, and 20 percent for goods from the EU. These measures caused panic on global markets, increased the chance of a recession in the US, and caused...
Apr 23, 2025
The International Apparel Federation (IAF) stated that the import duties implemented by the United States pose a direct threat to entire industries. In a statement, the federation wrote that there is a risk of destabilising economies and that the duties jeopardise the livelihoods of countless employees and entrepreneurs in the clothing industry....
Apr 18, 2025
Ultra-fast fashion retailer Shein and Chinese online marketplace Temu are set to increase prices next week as new tariffs implemented by US President Donald Trump on apparel and footwear in a bid to limit low-value imports begin. As the tariffs drive up expenses for companies, Temu and Shein issued statements to customers this week stating that...
Apr 17, 2025
In a striking speech from the Rose Garden, President Donald Trump made his position clear: in his opinion, the era of globalisation is over. He announced sweeping import duties on foreign goods, firmly underscoring his economic course. The measures immediately caused a stir on Wall Street, where stock prices fell sharply. According to Brian...
Zurich - Swiss watch exports rebounded by 1.5 percent in March, climbing to 2.38 billion Swiss francs (2.56 billion euros), driven by watch shipments to the US, the Swiss Watch Federation announced on Thursday. "Across the entire first quarter, however, the trend remains slightly negative, with a decline of 1.1 percent,” the Swiss Watch...
European industry organisation Euratex is strengthening its collaboration with the Fédération Tunisienne du Textile et de l’Habillement (FTTH). According to a press release, the strategic partnership between Euratex and the Tunisian textile federation should strengthen industrial cooperation between the two parties. Euratex indicates that it...
Apr 16, 2025
Tension between the US and China in the way of global trade escalated this week after US president Donald Trump announced new tariffs of 10 percent on imports from the region. Pressure then heightened later in the week when the Trump administration announced that China would no longer be eligible to avoid such tariffs by trading under the US’ ‘...
Feb 7, 2025
The National Council of Textile Organisations (NCTO) has said that it welcomes president Donald Trump’s decision to delay a planned 25 percent tariff on Mexican imports by one month, yet demands stricter measures on Chinese imports. Trump opted to put a pause on Mexican tariffs following a call with Mexican president Claudia Sheinbaum Pardo, who...
Feb 4, 2025
Julian Dunkerton, the chief executive officer of Superdry, has said that Chinese fast fashion giant Shein is being allowed to “dodge tax”, and is thus calling on the UK government to take action. Speaking to the Today Programme on Radio 4, and later reported on by the BBC, Dunkerton said the UK Treasury would do well to get rid of a “loophole”...
Sep 24, 2024
The cost of rent has doubled and transport times have increased considerably. The tensions surrounding the Red Sea in connection with the attacks by the Houthi Rebels are having an impact on the national and European economic system. A survey by the Italian business association Confcommercio has highlighted the impact of the crisis in the Red...
Feb 12, 2024