All Trade & Sourcing articles – Page 5
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ArticleUS Treasury Secretary sees de-escalation in trade war with China
During a private summit with investors hosted by JPMorgan Chase held in Washington, the US Treasury Secretary Scott Bessent said he expects “there will be a de-escalation” in the trade war with China in the “very near future,” CNBC reported citing a person attending the meeting. “No one thinks the ...
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Chinese exports to US face up to 245% tariff
Chinese goods exported to the US face an up to 245 percent tariff as a result of the Asian country’s ”retaliatory actions,” according to a fact sheet released by the US administration. The levy includes a 125 percent reciprocal tariff, a 20 percent tariff to address the fentanyl crisis, ...
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ArticleBrazilian shoemakers have mixed feelings about US tariffs
Brazilian shoemakers have mixed feelings about the impact of newly introduced US trade tariffs as they are seen as both an opportunity and a threat to the South American country. Brazil was included in the first batch of countries whose products only faced the 10 percent baseline tariff applied on ...
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China hikes tariffs on US goods to 125%
China has raised tariffs of goods imported from the US to 125 percent from a previous 84 percent, according to a statement from the State Council Tariff Commission released on the website of the Ministry of Finance. “The US’s imposition of abnormally high tariffs on China seriously violates international economic ...
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ArticleUS postpones reciprocal tariffs for 90 days except for China
On April 9, the US administration postponed for 90 days the application of so-called reciprocal tariffs to a string of countries. However, the waiver does not concern Chinese goods, for whom the US has increased reciprocal import duties to 125 percent. When added to an already existing 20 percent levy, ...
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China imposes 34% tariff on all US imports effective April 10
China will impose a 34 percent tariff on all goods imported from the US starting from April 10, in retaliation to the tariffs announced by the US administration, the official Xinhua news agency reported. China also announced export control measures on certain rare earth-related items, including samarium and gadolinium. Xinhua ...
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ArticleUS tariffs are expected to significantly hit Asian shoemakers
The decision made on April 2 by the US President Donald Trump to introduce tariffs on all goods imported to the US is expected to have a significant impact on footwear manufacturers, especially in Asia. Meanwhile, the UK is considered as coming out fairly unscathed from the new regime and ...
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Sports Gear opens a factory in Portugal
Sports Gear, a Taiwanese group specializing in sports footwear and supplying major brands such as Adidas, Nike and Puma, has invested €15.3 million in a factory in the Portuguese town of Estarreja, the Portuguese daily Diário de Notícias reported. Inaugurated on March 7, the factory currently employs 20 workers, but ...
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ArticlePeru and Guatemala shoemakers target new markets
Peru and Guatemala are two important Latin American footwear markets for different reasons. Peru, despite an annual production of 62 million pairs, ranks third after Chile and Mexico among the continent’s importing countries. Guatemala, on the other hand, ranks fourth after Brazil, Mexico and Ecuador among the region’s exporters, with ...
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Pakistan footwear exports up over 15% in 8 months to February
Pakistan’s footwear exports rose by 15.48 percent to $126.4 million between July and February, corresponding to the first eight months of the country’s fiscal year, from $109.5 million a year earlier, according to the Pakistan Bureau of Statistics. Leather footwear exports rose by 14.94 percent to $98.12 million in the ...
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ArticleA way out of the trade dispute: Is Cambodia the new Vietnam of the footwear industry?
With the current trade dispute between China and the US, the disturbance shows no signs of abating any time soon.
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ArticleExtra US tariffs on Chinese imports create ‘really challenging environment’ - FDRA
The announcement by the US President, Donald Trump, of the introduction of an additional 10 percent tariff on Chinese imports from March 4 would create a “really challenging environment” for US importers fo Chinese footwear, according to Matt Priest, the President and CEO of the trade association Footwear Distributors and ...
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ArticlePortuguese footwear exports rise in volume, fall in value
The Portuguese footwear industry exported 67 million pairs of shoes worldwide in 2024, up 3.3 percent from 2023. However, in value, exports fell by 6.5 perdent to €1.702 billion, according to the Portuguese footwear association Apiccaps citing preliminary data from the country’s statistics institute, INE. Portugal exports more than 90 ...
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Phoenix Kothari Footwear increases investment in India’s Tamil Nadu state
Phoenix Kothari Footwear, a joint venture between Chennai-based Kothari Industrial Corporation and Taiwan’s Evervan Group, will invest 5,000 crore rupee (€552m) to set up factories to produce non-leather footwear in Eraiyur and Karur in the southern state of Tamil Nadu, the Indian publication The Hindu BusinessLine reported. In the Indian ...
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Brazil will have a delegation of 76 brands at Micam
Brazil will be represented by 76 brands at Micam’s 99th edition, held from Feb. 23 to 25 at the Fieramilano Rho exhibition center on the outskirts of Milan. The brands are supported by Brazilian Footwear, an export promotion program maintained by the Brazilian footwear association Abicalçados in partnership with ApexBrasil, ...
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ArticleBrazilian shoemakers hope Trump will help boost their sales to the US
As Donald Trump is sworn in as the 47th President of the US on Jan. 20, Brazilian shoemakers hope to benefit from a possible reduction in shipments of Chinese footwear to the world’s largest market in value in the wake of higher import duties. During his electoral campaign, Trump, who ...
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ArticleXtratuf focuses on lifestyle and outdoor markets
Xtratuf is shifting its focus to lifestyle and outdoor markets. The US brand, initially popular among commercial fishermen, now has a diversified customer base. Half of customers are male adults, while women and children make up the other 50 percent – a significant change from the 70 to 75 percent ...
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ArticleBoot Barn sees growth underpinned by store openings
Boot Barn expects sales growth to continue to be underpinned by store openings, as it approaches the halfway mark of a goal to have 900 stores operating in the US in the next four or five years. Jim Watkins, the Chief Financial Officer of the US footwear retailer, explained during ...
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Red Dragonfly plans to produce in Uzbekistan
China’s Zhejiang Red Dragonfly Shoes plans to invest $10 million in footwear production in Uzbekistan, according to the local trade association Uzcharmsanoat. Red Dragonfly is expected to visit the country in the coming weeks to select a location for the facility. In June 2023, Uzcharmsanoat launched a project to establish ...
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Vietnam’s leather, footwear, handbag exports up by over 11% in 2024
In 2024, Vietnam’s leather, footwear and handbag exports totaled an estimated $27 billion, up by 11.45 percent from the previous year, according to Lefaso, the Vietnam leather, footwear and handbag association. Lefaso had forecast exports reaching between $26 billion to $27 billion. North America accounted for 41.4 percent of Vietnam’s ...
