US firms are paying almost all the cost of President Donald Trump’s tariffs on Chinese imports, say researchers at the International Monetary Fund (IMF), whose findings contradict Trump’s assertions that China is footing the bill. Some such tariffs have been passed on to US consumers, while others...
The US secretary of commerce Wilbur Ross presented R&M International, a textiles company, with the President’s ‘E’ Award for Exports recently in Washington, D.C. Ross honoured a select group of US companies with the Presidential Award, the highest recognition any US entity can receive for making a...
The worsening trade war is driving the steepest sell-off in Chinese shares traded in the US since the global financial crisis. The S&P/BNY Mellon China ADR Index has plunged 15% in May, putting it on track for its worst monthly performance since October 2008. Social media firm...
Nike, Adidas and 171 other footwear companies recently wrote a letter to President Donald Trump urging him to reconsider his tariffs on shoes made in China, saying the policy would be ‘catastrophic for our consumers, our companies and the American economy as a whole’. It was also...
The US-China trade war that has raged
for the past year could cause a disastrous $US600 billion
blow to the global economy. That’s the grim assessment of the Organization
for Economic Co-operation and Development (OECD), which warned a further
escalation of the crisis could impact a world economy already weakened by
sluggish...
The restrictions would limit
Hikvision’s ability to buy U.S. technology and American companies may have to
obtain government approval to supply components to the Chinese firm, the New
York Times reported on Tuesday. The United States stuck Huawei Technologies on
a trade blacklist last week, effectively banning U.S. firms from doing...
The event marks Walmart’s first effort to grow its nascent advertising business and heralds the retailer’s rising challenge to online ad leaders Alphabet Inc’s Google, Facebook Inc and Amazon.com Inc. The event, called “5260,” is named after a Walmart store near the retailer’s hometown of Bentonville, Arkansas,...
The US Consumer Product Safety Commission (CPSC) is requesting information about possible changes to the Commission's Standard for the Flammability of Clothing Textiles to expand the list of fabrics that are exempt from testing under the standard. CPSC is also seeking possible ways to update provisions under...
The inclusion of chapters 50-60 in the recently imposed additional tariff on Chinese imports by the US has put India in an advantageous position, according to the Confederation of Indian Textiles Industry (CITI). Indian textile industry has an opportunity to increase its exports to US, particularly cotton...
Cotton trades were at a slow pace and prices dropped in the Brazilian market in the first fortnight of May. Between April 30 and May 15, the CEPEA/ESALQ cotton Index, with payment in 8 days, dropped 2.7 per cent, closing at 2.8679 BRL per pound on May...