Top stories this week on just-style include a look at how potential new tarrifs on virtually all US imports from China could hit US apparel trade, the EU-Vietnam Free Trade Agreement (EVFTA) moves closer to coming into force, and Li & Fung sells a stake in its logistics business as plans for a proposed spin-off IPO of the segment are postponed.
Testimony takeaways – How new China tariffs could hit US apparel trade
The fear of an imminent rise in new tariffs on virtually all US imports from China – including textiles, apparel and footwear – seems to have abated for now. But what’s potentially at stake was set out by dozens of executives from apparel and footwear brands, retailers and importers who took part in a series of recent hearings in Washington. Here’s what they had to say.
Landmark EU-Vietnam trade deal edges closer
The EU-Vietnam Free Trade Agreement (EVFTA) is moving closer to coming into force after being signed by the two sides on Sunday (30 June).
Japanese clothing firms reducing reliance on China
US Tariffs are shifting - will you react or anticipate?
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By GlobalDataJapan-based clothing brands have protected themselves in advance against exposure to US-China trade turbulence by decreasing their reliance on China-based manufacturing facilities in recent years.
Trade war truce follows Trump-Xi G-20 meeting
The fear of an imminent rise in extra tariffs on virtually all US imports from China – including textiles, apparel and footwear – seems to have receded after progress made during talks between President Trump and China’s President Xi Jinping at the G-20 summit in Japan.
Li & Fung sells Logistics stake as spin-off postponed
Sourcing giant Li & Fung has sold a 21.7% stake in its logistics business for US$300m to Singapore-headquartered investment company Temasek, as plans for a proposed spin-off IPO of the segment are postponed until further notice.
