Tariffs news and archive

US makes new offer to EU in tariff dispute

In the trade dispute with the EU, the US submitted a new offer. The European Commission confirmed on Thursday that it had received a relevant US document. It was being reviewed, Commission President Ursula von der Leyen said on Thursday night after an EU summit. "We are ready for an agreement. At the same time, we are preparing for the...

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Strong growth in Chinese retail despite US trade dispute

Chinese retail sales increased by 6.4 percent year-on-year in May, despite the ongoing trade dispute with the US. This marked the strongest growth since late 2023, following a 5.1 percent rise in April. Analysts were surprised by this positive development, having forecasted a decline in growth to 4.9 percent. French bank Société Générale...

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Podcast: Steve Madden speaks candidly about career highs and lows

In ‘The Cutting Room Floor’ podcast, American entrepreneur Steve Madden spoke openly about his career, including the highs and lows. He also shared his views on trade tariffs and the current state of fashion retail. Madden began his career in the fashion world as a footwear designer and quickly made a name for himself in the industry. In 1990,...

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China gives no details on tariff agreement with US

China is keeping a low profile following the agreement announced by US President Donald Trump on easing export restrictions in the ongoing trade dispute. Both sides have made new progress in resolving the other side's economic and trade concerns, said Foreign Ministry spokesperson Lin Jian in Beijing. The People's Republic hopes that both sides...

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Facing tariffs, Vietnam requests support from American clothing brands

Hanoi - Hanoi invited American textile companies to support Vietnam with the Trump administration in its efforts to avoid a 46 percent tariff that would damage trade between the two countries. Vietnam, which mass-produces clothing and footwear for international brands, worked tirelessly to meet the demands of its main client, the US. Industry...

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Obermeyer names new CEO to drive brand evolution

American ski and outdoorwear brand Sport Obermeyer, founded in Aspen in 1947, has named Kris Kuster as its new chief executive officer as the brand targets a new vision for women and year-round expansion. Kuster, formerly chief executive officer of Mammut Sports Group AG and X-Bionic, succeeds Obermeyer’s founder, Klaus Obermeyer, who is the...

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US trade organisations commend Trump’s comments on sneaker and T-shirt production

Leading US fashion and textile organisations have backed recent comments by president Donald Trump in which he suggested that his stringent tariff policies were “not focused on driving sneaker and T-shirt production to the US”. A joint letter – signed by the American Apparel & Footwear Association (AAFA), Council of Fashion Designers of America...

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US tariffs drive deceptive spike in Swiss watch exports

Boosted by a surge in US demand, Swiss watch exports jumped by 18.2 percent in April 2025. However, this increase mainly masked the sector's deep concern about the new tariffs imposed by Washington. A cyclical surge linked to US trade policy The Swiss watch industry experienced a spectacular upturn in April 2025. According to data from the...

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Misinformation casts shadow on US-China trade truce

From false claims of Americans panic-buying Chinese goods to bot-driven attacks on US brands, a tide of misinformation is casting a shadow over a temporary trade truce between Washington and Beijing. The world's two biggest economies agreed earlier this month to pause reciprocal tariffs for 90 days, a surprise de-escalation in their bitter trade...

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Trump grants EU postponement on threatened new tariffs

US President Donald Trump wants to postpone the introduction of the new tariffs on imports from the EU, which he announced for the beginning of June, by a good month to allow more time for negotiations. Trump announced that the start of the additional import duties of 50 percent would be postponed to July 9, after a conversation with European...

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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...