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Additional US tariff to unevenly hit Indian corporations: S&P Global

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Additional US tariff to unevenly hit Indian corporations: S&P Global



US tariff-related hits to credit quality in the Asia-Pacific (APAC) will become more pronounced in the coming quarters, and the tariffs pose downside risk to the 12 per cent of rated APAC corporate and infrastructure issuers S&P Global Ratings views as exposed to material tariff-related effects.

The tariff effects on rated APAC corporations have been modest so far.

US tariff-related hits to credit quality in APAC will become more pronounced, and the tariffs pose downside risk to the 12 per cent of rated APAC corporate and infrastructure issuers S&P Global Ratings views as exposed to material tariff-related effects.
S&P Global expects the tariff will unevenly hit Indian corporations.
US tariff actions on APAC nations will remain fluid, with varying effects, it noted.

US tariff actions on APAC nations will remain fluid, with varying effects across countries and sectors. This creates uncertainty—and risk—for bondholders, the rating agency said recently in a report.

The indirect impact of potential weaker macroeconomic conditions poses a greater risk than the direct effect of tariffs levied on countries and sectors.

The auto sector in the region faces the most direct tariff impact. The chemicals and metals & mining sectors are most exposed to indirect effects, as these sectors are already facing structural and cyclical pressures.

About 80 per cent of the corporations S&P Global Ratings rates in APAC are investment-grade. They carry quite a bit of financial flexibility against immediate tariff impacts.

However, the indirect (or second order) effects could be pervasive. These include a global or regional slowdown, the report noted.

Tariffs may also amplify existing cyclical and structural pressures, such as overcapacity in China.

The risk of a sudden influx of cheap goods in regional markets to offset a loss of access to the US market also poses a significant threat to the region’s steel, textile, apparel and chemicals sectors.

Additional import duties and measures by several countries in the region will further escalate risks for exporters.

“While the latest US tariff differential among Asia-Pacific countries has narrowed, we believe trade flows and supply chains will continue to reshape, and this presents a category of risk in itself,” said the report.

S&P Global expects the additional US tariff will unevenly hit Indian corporations. Exporters of capital goods, chemicals, automobiles and food and beverages will face the toughest adjustment. Pharmaceuticals and smartphones are insulated because of exemptions. But uncertainty remains especially for pharmaceuticals.

Fibre2Fashion News Desk (DS)



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Expanded MERCOSUR-India PTA to cover tariffs, NTMs: India, Brazil

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Expanded MERCOSUR-India PTA to cover tariffs, NTMs: India, Brazil



India and Brazil recently agreed that the MERCOSUR-India Preferential Trade Agreement (PTA) signed in June 2003 should be expanded covering both tariff and non-tariff issues, with active participation of the private sector and other stakeholders.

The MERCOSUR bloc comprises Argentina, Bolivia, Brazil, Paraguay and Uruguay. Venezuela was a full member, but has been suspended since December 1, 2016.

Brazilian Vice President Geraldo Alckmin, who also holds the portfolios of development, industry, trade and services, recently met Indian Minister of Commerce and Industry Piyush Goyal in New Delhi.

India and Brazil recently agreed that the MERCOSUR-India Preferential Trade Agreement (PTA) signed in June 2003 should be expanded covering both tariff and non-tariff issues, with active participation of the private sector and other stakeholders.
Both agreed that the expansion of the PTA should be substantial, aiming for a significant share of bilateral trade to benefit from tariff preferences.

Both agreed that the expansion of the PTA should be substantial, aiming for a significant share of bilateral trade to benefit from tariff preferences, a release from the Indian ministry said.

The next step in this regard should be the establishment of a technical dialogue between the parties, including the holding of a meeting of the joint administration committee created under Article 23 of the PTA at the earliest date, to define the scope of expansion.

Parties should try to conclude the negotiations within a year from its launch.

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US’ Target & Woolrich unveil outdoor-inspired limited collection

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US’ Target & Woolrich unveil outdoor-inspired limited collection



Target Corporation (NYSE: TGT) announced the launch of a limited-time collection with Woolrich, the iconic outdoor lifestyle brand known for its signature buffalo check. Woolrich x Target launches Oct. 18 in select Target stores and on Target.com, featuring more than 100 reinvented classics that blend Woolrich’s heritage of outdoor craftsmanship with modern style across men’s and women’s apparel, home, outdoor gear and food and beverage.

The collaboration brings together two design-driven brands, offering a fashion-forward collection that reflects today’s cultural shift toward outdoor living and adventure. It includes Target’s largest men’s capsule ever in a limited-time offering, alongside a broad range of women’s styles and lifestyle pieces, with standouts like the Women’s Buffalo Check Melton Jacket and Adult Printed Landscape Zip-Up Fleece Jacket. Designed to blend style and function and taking inspiration from the growing urban adventure movement, the assortment leans into modern trends with prices starting at $2, and most items under $40. Explore the lookbook for the full collection.

Target has launched a limited-edition collection with Woolrich, debuting October 18 in select stores and online.
Featuring over 100 redesigned classics across apparel, home, and outdoor gear, prices start at $2 with most under $40.
The Woolrich x Target line celebrates adventure-ready fashion and outdoor living, blending heritage style with modern functionality and affordability.

“Woolrich x Target is all about fashion meeting function to help consumers embrace the outdoors in style,” said Jill Sando, executive vice president and chief merchandising officer, apparel & accessories, home and hardlines, Target. “From the Quilted Sheep Tote Bag to the Buffalo Check Outdoor Wearable Throw, to the amazing inflatable kayak, and so much more, I love how Target and Woolrich have worked together to create something that’s fun and affordable.”

Building on two legacies

Known as “the original outdoor clothing company,” Woolrich has been outfitting adventurers since 1830, with a legacy rooted in durability, craftsmanship and iconic style. From outfitting Arctic expeditions to becoming a staple in streetwear, Woolrich has inspired generations of open-air wanderers and urban explorers alike.

Meanwhile, Target’s leadership as a brand has long been driven by great design, built through decades of investment in owned brands, national brands and partnerships to deliver on-trend design and affordable style. For over 25 years, Target has partnered with trendsetting designers — nearly 200 to date — and expanded into unexpected categories such as beauty, home, food and more, evolving its strategy with cultural and social trends.

The Woolrich x Target collaboration builds on both legacies and celebrates the joy of outdoor living and versatility of adventure-ready fashion, with pieces like the Buffalo Check Outdoor Wearable Throw and Men’s Mid-Rise Straight Fit Cargo Pant that blend style and function while surprising with unexpected details. The Woolrich archives provided early inspiration for the team, who incorporated original details, prints and artwork into many Woolrich x Target items. Target guests will find archival Woolrich designs alongside unique additions that include an inflatable kayak, binoculars, mindfulness journals, a new home assortment, plus new and exclusive food and beverage items from Peet’s Coffee and Kodiak Cakes — all designed to bring joy and adventure into everyday life.

“For nearly two centuries, Woolrich has been synonymous with authentic American outdoor exploring, crafting products built on a legacy of heritage,” said Heekyun Kim, Woolrich’s creative director. “This collaboration with Target represents an exciting opportunity to introduce our iconic designs, like our legendary buffalo check, to a new generation of explorers. We are proud to create a collection that honors our archives while making the Woolrich spirit of adventure accessible to all.”

Early access on three exclusive items for Target Circle 360 members

For the first time, the retailer will offer three Woolrich x Target items ahead of the launch — the Patchwork Plaid Throw Blanket, Sheep Shaped Throw Pillow and Sheep Print Beanie — exclusively for members of the retailer’s paid membership program Target Circle 360. The items will be available for purchase on Target.com Oct. 14-16, while supplies last, before the collection launches Oct. 18 — and are not included in the main collection.

An adventure-fueled campaign and shopping experience

To celebrate the launch, Target will debut an “Adventure Is Wherever You Are” marketing campaign shot in New York City by the retailer’s in-house team and featuring style influencer Lauren Wolfe and singer-songwriter David Kushner. The campaign captures the playful, optimistic spirit of the collection, showing how the collection fits seamlessly into everyday moments of exploration, style and self-expression.

The retailer will craft the shopping experience in the same adventurous spirit. Select stores will feature a dedicated Woolrich x Target shopping experience that immerses guests in a world of buffalo check and invites them to explore the collection’s cozy textures. On Target.com and the Target app, guests will be greeted with joyful touches that evoke fall and highlight the collection. Target is also making shopping the collection fast and easy with same-day pickup and same-day delivery so guests can grab their gear and get adventuring.

The Woolrich x Target collection is the latest example of Target’s commitment to its continued legacy of design partnerships that make quality style and design accessible to all.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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Germany’s GDP to rise 1.4% in 2026, 1.8% in 2027: Goldman Sachs

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Germany’s GDP to rise 1.4% in 2026, 1.8% in 2027: Goldman Sachs



Germany’s economy is poised for stronger growth over the next two years, as the country’s gross domestic product (GDP) is projected to rise by 1.4 per cent in 2026 and 1.8 per cent in 2027—well above its 0.8 per cent potential growth rate and the consensus among economists, according to Goldman Sachs Research.

Chancellor Friedrich Merz’s government plans to invest €500 billion (~$580 billion) in infrastructure over the next 12 years and has amended Germany’s constitutional debt rule to enable higher defence spending. Total spending is expected to rise 2.2 per cent of GDP by 2027, Goldman Sachs said in an article.

Germany’s GDP is forecast to grow 1.4 per cent in 2026 and 1.8 per cent in 2027, surpassing its 0.8 per cent potential rate, according to Goldman Sachs.
The Merz government plans €500 billion (~$580 billion) in infrastructure spending and higher defence outlays.
While reforms could tackle labour and energy challenges, Germany remains exposed to global trade risks and structural inefficiencies.

“After years of economic underperformance, we have turned notably more optimistic on Germany’s economic outlook,” said Niklas Garnadt and Jari Stehn, economists at Goldman Sachs. They added that near-term policy efforts will likely focus on executing the fiscal package efficiently, including fast-tracking planning and permitting processes to prevent investment delays.

The fiscal expansion could also open the door to structural reforms tackling long-standing issues such as labour shortages, high energy costs, and sluggish productivity. As in the early 2000s, these measures could transform Germany into a renewed growth engine, Goldman Sachs said.

Nonetheless, challenges persist. Germany’s dependence on global trade makes it vulnerable to protectionist trends and slowing world commerce, while its reliance on traditional industries, elevated energy prices, bureaucratic inefficiencies, and skilled labour shortages continue to weigh on potential growth.

Goldman Sachs concluded that the Merz administration now has ‘a window of opportunity to build on this improved macro picture with reforms that ensure a lasting improvement in Germany’s economic performance.’

Fibre2Fashion News Desk (SG)



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