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Nextil benefits from Trump's tariffs: 175 million dollar contract with US-based Maxum

Madrid – The Spanish textile company Nextil Group has secured a major partnership with the US multinational Maxum International Group, becoming a key player in Maxum’s supply chain. This partnership is a direct result of the relocation of production by US companies, driven by the new trade and tariff policies of President Donald J. Trump. The...

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US and China trade talks: Focus on economy, trade, and TikTok

The US and China will resume trade talks next week. The US Treasury announced that Treasury Secretary Scott Bessent will meet with Chinese representatives in Madrid. Among them will be Vice Premier He Lifeng, who has led previous talks for China. There was no immediate confirmation from Beijing. According to the US announcement, Bessent will...

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Swatch responds to US tariffs with special "39%" watch

Zurich - Watch brand Swatch has responded to US tariffs with a special edition watch. The design plays on the 39 percent levy imposed on Switzerland. The brand has pledged to stop selling the watch "as soon as the US changes its tariffs". The Swiss brand, known for its multicoloured plastic watches, has launched a model where the numbers three...

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Richemont chairman hopeful of negotiated solution on US tariffs

Zurich - Richemont chairman Johann Rupert expressed optimism for a negotiated solution regarding US tariffs on Swiss goods. He stated on Wednesday that the luxury group remains "well-positioned" for the long term. "I am in contact with the Swiss government and the heads of the negotiations in the US", Rupert said at the annual general meeting in...

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CHIC Shanghai: China's garment manufacturers navigate trade conflicts and rising costs

Rising pressure surrounding the trade conflict between China and the US, as well as growing competition domestically and in other Asian countries such as Vietnam and Bangladesh, demand new measures for China's garment manufacturers. To understand how manufacturers are handling the situation, while rising costs and consumer reticence shape the...

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Italian leather industry closes 2024 with 30 billion euro turnover, down 8.6 percent

Milan - With approximately 10,000 active businesses, the Italian leather industry closed 2024 with a total turnover of 30 billion euros. This represents an 8.6 percent decrease compared to the previous year. The negative trend was also confirmed in the first six months of 2025, with a further 5.3 percent decline compared to the same period in...

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Media: Trump appeals to Supreme Court in tariff dispute

President Donald Trump has appealed to the Supreme Court to challenge an appeals court ruling that stripped him of the authority to impose extensive import tariffs under an emergency law. On Wednesday, his administration filed an appeal and requested an expedited procedure, urging the court to announce by September 10 whether it will take up the...

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Trump tariffs: Levi's UK flags 'anti-American' risk

Levi's UK has identified a potential threat to its business in the form of "rising Anti-Americanism" stemming from Trump Tariffs and other U.S. governmental policies. The company fears that this sentiment could cause consumers to shift their preferences away from U.S. brands, opting instead for "national / European products". This concern,...

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Mexico eliminates tariff-free footwear imports to protect its industry

The Mexican government announced on Thursday the elimination of a temporary trade regime that allowed the tariff-free import of finished footwear. This has reduced production and employment in the sector, according to President Claudia Sheinbaum. This decision is the latest in a series that the left-wing government has implemented. It aims to...

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US ends de minimis loophole for international imports

As of Friday, the US has abolished duty-free imports for goods valued under 800 dollars. President Donald Trump initially lifted the exemption for China. At the end of July, he also ordered the end of duty-free status for parcels from around the world. International postal services had already restricted shipments to the US in recent weeks due...

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New US tariffs against India over Kremlin dealings in effect

New US tariffs on imports from India due to its oil trade with Russia have come into effect. As of Wednesday, the United States is imposing an additional tariff of 25 percent on products from the South Asian country, according to a document in the US Federal Register. Former US President Donald Trump ordered the move in early August. This...

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Trump threatens tariffs over digital laws; EU counters

The EU remains unfazed by new tariff threats and demands from US president Donald Trump. Spokespeople for the European Commission, responsible for EU trade policy, made it clear in an initial reaction that the EU will not be dictated to by Trump regarding the rules it sets for digital platforms and businesses. They also referred to the recent...