We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Mar 29, 20243:22pm

Trump hits China with 10% levies

The measure, that will become effective in September, adds to the 25% rate applied in May. Amongst the more affected is the sportswear industry. 

Aug 2, 2019 — 4:16pm
Mds
Save

Trump hits China with 10% levies

 

 

A new episode of the trade war between Trump and China hits the spotlight. The president of the United States of America has announced 10% levies on 300 billion dollars’ worth of Chinese imports, that will become effective in September.  

 

Trump announced the measure via Twitter, and states that new rise doesn’t include the 250 billion dollars already hit by 25% tariff. The rise comes after the disagreement of negotiations with the Chinese government, “Our representatives have just returned from China where they had constructive talks having to do with a future trade deal. We thought we had a deal with China three months ago, but sadly, China decided to renegotiate the deal prior to signing”, tweeted the president.

 

The first rise, announced by the White House in May, led the retail industry to sign a jointed statement to warn about the possible consequences, and qualified them as catastrophic. According to estimations made by the Footwear Distributors and Retailers of America (Fdra), this rise will have a cost of 7 billion dollars for consumers. 

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...