TRADE WAR news and archive

U.S. considers new tariffs on European goods, including fashion

European brands could soon see their products increase in price as the U.S. contemplates increasing tariffs on imports from the UK, Spain, Germany and France. The move would net the U.S. 3.1 billion dollars on select imports, which would affect large luxury groups like LVMH but also smaller, independent labels. The tariffs, which could include...

Retail

Retail continues to grow in China despite economic challenges

China enjoyed a better-than-expected pick-up in the key retail and industrial sectors in November, data showed Monday, providing a further boost to Beijing after finally agreeing a mini trade pact with the United States last week. The readings come at the end of a tough year for the world's number two economy, which is expanding at its weakest...

Business

Alibaba shares surgre as Asian market await trade agreement

Asian markets were mixed on Tuesday as investors tracked developments in the China-US trade talks, while Chinese online retail titan Alibaba surged almost eight percent on its Hong Kong debut. While the mood remains upbeat across trading floors that a partial tariffs agreement will eventually be signed, there is a sense of unease about the lack...

Business

U.S. fashion industry concerned about trade wars hindering supply

New York – The fashion industry in the U.S. have shared they're concerned about the trade wars with China might hinder their business and supply over the next couple of years. The United States Fashion Industry Association (USFIA) released Tuesday its sixth annual Fashion Industry Benchmarking Study, a survey of executives from leading fashion...

BusinessFeatured

Apparel and Footwear industry opposes tariffs against China in letter to Trump

Three organizations representing the American fashion, accessories and footwear industry, namely the American Apparel & Footwear Association, the Council of Fashion Designers of America and the Accessories Council, have penned a letter to president Donald Trump to manifest their opposition to the proposed 25 percent tariff increase on textiles,...

Business

More than 600 US companies urge Trump to put an end to trade war with China

Over 600 American companies, including Target, Walmart, Columbia Sportswear, Levi Strauss & Co., Macy’s and Urban Outfitters, have signed a letter urging the president of the United States, Donald Trump, to resolve the trade dispute with China. Sent by Tariffs Hurt The Heartland, a national campaign against tariffs supported by more than 150...

Business

Asian markets mixed as traders prepare for crucial week

Asian markets were mixed Monday as investors look ahead to a week chock-full of crucial events, including high-level trade talks between China and the United States. Hopes that a deal can be struck between the world's top two economies have helped fuel a rally this month in global equities, which had been hammered in December. While there have...

Business

China's ultra wealthy buffeted as trade war bites

China's ultra wealthy saw their ranks thinned this year as the trade war with the US pummelled stocks and shredded billions of dollars of paper wealth, a survey showed Wednesday. The number of Chinese, or China-based magnates, with a net worth over 2 billion yuan (290 million USD) fell by 237 to 1,893 individuals this year, according to the...

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...

Retail|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...

Business

Alibaba's Jack Ma says trade war endangers job pledge

Alibaba founder Jack Ma said a China-US trade war could endanger his pledge to create 1 million US jobs, state media reported Tuesday, as China and the US lock horns over trade. The billionaire made the headline-grabbing promise to Donald Trump at Trump tower last year as Beijing worked to woo the newly elected president, known for his...