Import news and archive

Trump's tariffs: Unexpected boom for second-hand clothing market

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...

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UK chancellor to review de minimis rule, mitigate impact of ‘dumped’ goods

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...

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Podcast: Possible Consequences of Trump’s Import Duties for Fashion Sector

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...

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International Apparel Federation: ‘Import Duties are Threat to Entire Industries’

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....

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Shein & Temu to increase prices as tariffs come down on cheap imports

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...

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Podcast: 'Trump tariffs herald new era for global trade'

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...

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Swiss watch exports: US market drives March growth

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...

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Euratex signs strategic partnership with Tunisian textile federation

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...

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What is the US’ de minimis exemption and why does it matter for global trade?

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’ ‘...

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NCTO backs pause on penalty tariffs for Mexico, calls for higher tariffs on China

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...

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Superdry CEO says Shein is being allowed to ‘dodge tax’

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”...

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Tensions on the Red Sea and in transport: Fashion is one of the most affected sectors

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...