Trade War news and archive

Growth of Chinese economy slowed in april

The growth of the Chinese economy in April did not meet analysts' expectations. Retail sales growth and production growth in the country were lower than previously expected, according to Reuters and AP News. A major reason cited was the increase in import duties between the US and China since the beginning of April. Retail sales growth amounted...

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Business|OPINION

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...

Podcast

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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Business

EU postpones retaliatory tariffs after US hits pause button

The European Commission is freezing its retaliatory tariffs against the US for 90 days. This is in response to a rollback by US President Donald Trump, who announced that certain recently introduced import duties would be postponed for 90 days. Trump paused the announced high import duties for goods from dozens of countries. During the 90...

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...

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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...

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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...

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Business

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,...

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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...

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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...