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Trump wants 50 percent tariffs on EU goods from June

In a trade dispute with the European Union, US president Donald Trump advocated for punitive tariffs of 50 percent. He wrote on his online platform, Truth Social, that this levy for goods from the EU should come into effect on June 1. “There are no tariffs if the product is built or manufactured in the US,” he added. Trump wrote that ongoing...

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AAFA, FDRA and NRF welcome US-China tariff pause, call for long-term deal

US apparel and footwear trade associations have welcomed the US and China’s 90-day pause on heightened tariffs. Yet, while the temporary agreement has somewhat calmed the waters of the two regions’ trade war, organisations are still calling for a long-term deal that will mitigate rising costs and prices. This was reflected in a statement from...

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Trump maringally lowers US tariff barrier for Temu and co.

Even after the temporary easing of the trade dispute, Donald Trump continued to make business difficult in the US for Chinese online retailers like Temu and Shein. Until recently, they benefited from the fact that goods deliveries with a value of less than 800 dollars were exempt from tariffs. Since the beginning of May, however, a tariff of 120...

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Wall Street opens with strong gains due to US-China trade truce

Washington – The New York Stock Exchange opened this Monday with pronounced gains after the US and China announced the suspension for 90 days of most of the mutual tariffs, in a de-escalation of the trade war launched by Donald Trump. Around 1.50pm GMT, the Dow Jones was up by 2.47 percent, the Nasdaq index increased by 3.47 percent and the...

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China and US lower mutual tariffs

China and the United States have agreed to reduce their mutual tariffs in the ongoing trade dispute. According to a joint statement, the measure will be temporarily in effect for 90 days. The news triggered strong gains on international stock markets, but the euro against the US dollar came under pressure. Accordingly, US tariffs on Chinese...

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Keen will not implement any tariff-related price increases in 2025

US footwear brand Keen, known for its outdoor shoes, has stated it will not implement any tariff-related price increases for the remainder of 2025. In a statement, the family-owned company said that in these unprecedented times, it has been “monitoring the landscape and listening to its partners, fans, and community,” and is dedicating itself to...

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Pandora reports sales growth in Q1 and is bracing for US tariffs

Danish jewellery brand Pandora has reported a 7 percent organic sales growth in the first three months of 2025, but states it is “actively preparing” for the impact of US tariffs. In a statement, Pandora said that its continued mission to execute its Phoenix strategy, to position Pandora as a full jewellery brand, is delivering “solid financial...

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Shein, Temu, AliExpress: End of duty-free low-cost goods from China in the US

Since May 2, 2025, the US ended a customs rule that allowed Chinese platforms like Shein, Temu and AliExpress to flood the American market with cheap products. This abrupt end to the ‘de minimis’ regime disrupted their business model and reshaped the landscape of global online commerce. Us toughens its stance on Chinese imports Since 4:01am GMT...

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American footwear industry warns of tariff fallout

A coalition of major U.S. footwear companies is sounding the alarm over the potential devastation of new tariffs, warning that the levies could trigger widespread business closures, job losses, and price hikes for consumers. In a letter to the Trump administration, the Footwear Distributors and Retailers of America (FDRA), representing industry...

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Shein pauses London IPO as US tariffs and customs clamp down

Fast fashion giant Shein is believed to have halted plans for its London IPO as uncertainty around tariffs continues to heighten. The company is said to have not renewed contracts with two corporate communications firms that had been brought in to advise on the potential listing, according to The Times. FGS Global and Brunswick had reportedly...

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EssilorLuxottica mulls moving part of production to US in response to tariffs

Eyewear giant EssilorLuxottica is considering moving part of its production to the US in response to the shuffling of tariffs. In a shareholders’ meeting on April 31, attended and reported on by Reuters, the group’s chief executive officer, Francesco Milleri, expressed caution at moving too quickly on the decision, yet noted that once...

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Shein reportedly mulling US business restructuring to mitigate tariff impact

Chinese fast fashion giant Shein is believed to be looking into ways to restructure its US business as uncertainty around tariffs on foreign imports continues to heighten. According to the Financial Times (FT), which cited two people with knowledge of the company’s deliberations, one idea being considered is to divert production for the US...