Tariffs news and archive

China imposes 34 percent retaliatory tariffs on US products

China has announced countermeasures on imports from the US, which will amount to up to 34 percent. According to the Customs Commission of the State Council of China, the tariffs will go into effect on April 10. The decision is a response to the "Liberation Day" import duties announced by the US government on Wednesday. The additional tariffs led...

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Fashion industry faces turmoil as U.S. tariffs bite

The “Liberation Day” tariffs announced by the U.S. administration on Wednesday has sent shockwaves through global industries and financial markets. It precipitated steep stock market declines and raising fears of an escalating international trade war. The U.S. dollar has similarly taken a hit, falling 1.6 percent amid heightened uncertainty....

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Trump blows up fashion supply chains, with Turkey, Morocco and Egypt emerging as new ‘hubs’

Madrid – “Liberation Day” arrived, as the president of the US, Donald J. Trump, liked to call it. The trade war that the leader of the US promised to "correct" via tariffs, for what he considered to be abusive and non-reciprocal trade relations and have ultimately affected the economic and industrial performance of the US, has finally broken...

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Stocks tank, havens rally as Trump tariffs fan trade war

Equity markets tumbled Thursday after Donald Trump delivered a "haymaker" blow with sweeping tariffs against US partners and rivals, fanning a global trade war that many fear will spark recessions and ramp up inflation. Tokyo's Nikkei led Asia's selloff, briefly collapsing more than four percent, while US futures plunged with oil prices, safe...

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US increases imports ahead of possible tariff hikes

Imports from the United States increased by 12.1 percent in January 2025 compared to December 2024. This is probably due to American companies anticipating the tariff increases that President Donald Trump wants to impose on foreign goods, according to the latest World Trade Monitor (WTM) from the Netherlands Bureau for Economic Policy Analysis...

Business|Interview

Shein says US tariff hit won't stop fast-fashion flood

Tariffs imposed by the Trump administration will not eject fast-fashion juggernaut Shein from the US market, its executive chairman Donald Tang has told AFP. The head of the online platform, which has come in for scrutiny over its environmental footprint and allegations of human rights violations, also insisted that the company does not use...

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What do the European import tariffs on American products mean for the fashion industry?

Trade relations between the European Union and the US have become more complex since President Donald Trump re-launched import tariffs. In retaliation, on March 12, the EU launched its own import tariffs to protect European businesses, workers, and consumers from the consequences of unjustified trade restrictions. These so-called ‘retaliatory...

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EU imposes own import duties on US, textiles and leather goods become more expensive

The European Union (EU) has launched countermeasures to the import duties imposed by the US. The EU is introducing its own import duties to protect European companies, workers and consumers from the consequences of unjustified trade restrictions, the organisation announced in a memo. Import duties are requested for textiles and leather goods,...

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US Retail Sales Dip 0.22% in February Despite Year-Over-Year Growth

Retail spending across the US may have declined on a monthly basis last month as concerns over tariffs increase, but continued to grow year over year as the economy holds steady, according to the latest CNBC/National Retail Federation (NRF) Retail Monitor. Total retail sales (minus automobiles and gasoline,) dropped 0.22 percent (seasonally...

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Amazon rival Mercado Libre to invest 3.4 billion dollars in Mexico

Mercado Libre, a Latin American rival of Amazon, announced Friday a 3.4 billion dollars investment in Mexico, the latest in a series of pledges by foreign firms in spite of US tariff threats. "It means that despite these tariff issues, they're going to continue their investment in Mexico," economy minister Marcelo Ebrard said after the Argentine...

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Trump partially suspends tariffs against Mexico and Canada

US President Donald Trump has backtracked somewhat in the trade conflict with Canada and Mexico. The Republican partially suspended tariffs on goods from the two neighboring countries - at least for the time being. All imports from Mexico and Canada that fall under the North American Free Trade Agreement (USMCA) will therefore not be subject to...

Fashion

Trump's tariffs spark "Buy Canadian" movement

As geopolitical tensions flare and protectionist policies return to the global stage, Canadian fashion and beauty brands find themselves caught in the crosshairs of the latest US tariff increase. President Donald Trump's newly imposed 25 percent tariff on Canadian goods, a move that could have significant implications for cross-border trade...