Fashion
Alaska calculus: What the Trump–Putin meeting means for India?
In the early stages of the trade escalation, there was a general consensus in India that Washington’s aim was to secure greater concessions, with many believing that Trump’s additional tariff threat was a strategic move to bring India back to the negotiating table. However, those hopes have been dampened in recent days.
Trump has signalled that further trade talks with India are unlikely unless a separate, sensitive issue is resolved—India’s ongoing oil imports from Russia, which he argues is “fuelling the war machine” in the Ukraine. When asked by journalists if the tariff decision would result in a renewed push towards finalising a bilateral trade agreement (BTA), Trump’s response was reportedly in the negative, which is seen in reference to his demand that India halt its oil purchases from Russia first.
The 25 per cent additional tariff imposed by Donald Trump on Indian goods is set to take effect from August 27.
According to some estimates, owing to increased tariffs, certain knitted garments could face duties as high as 64 per cent and woven apparels around 60.3 per cent.
The Trump-Putin meeting on August 15 in Alaska might influence the course of India-US trade ties.
This linkage of trade negotiations to India’s energy diplomacy has now thrown bilateral discussions into uncertainty. Experts and analysts suggest that as long as the Russia-Ukraine conflict continues and India maintains its current oil strategy, progress on trade talks with the US could remain frozen.
Meanwhile, according to reports, US Treasury Secretary Scott Bessent emphasised in a recent interview that the US has imposed secondary tariffs on India for purchasing Russian oil and reportedly warned that further measures could follow if the situation does not improve.
From an economic standpoint, the imposition of the new tariffs poses a serious though not devastating challenge for India. Many analysts are of the opinion that it is not going to cripple an economy of India’s size.
However, the consequences for specific export-driven sectors—particularly textiles and apparel—could be much more severe. India’s labour-intensive textile industry, which heavily relies on US demand, is bracing for a potential loss of up to $5 billion in business, according to some industry estimates.
Owing to increased tariffs, certain knitted garments could face duties as high as 64 per cent, while woven apparel could be hit with tariffs of around 60.3 per cent, claim industry insiders. These elevated rates place India at a serious competitive disadvantage, especially when compared to rivals like Bangladesh, Vietnam, Pakistan, and Cambodia.
Meanwhile, industry voices from textile hubs like Tiruppur, Coimbatore, and Karur have already sounded the alarm. As per media reports, manufacturers in these regions claimed some existing orders from US buyers have been paused, and there is growing concern that future contracts could be diverted to countries with lower tariffs.
This shifting trade landscape is unfolding at a time when broader diplomatic developments are also in flux. All eyes are now on the upcoming meeting between Donald Trump and Russian President Vladimir Putin, scheduled for Friday, August 15, in Alaska.
The primary focus of this meeting is going to be the ongoing war in Ukraine.
For India, this high-stakes diplomatic engagement could carry significant implications. If the talks result in any meaningful progress towards de-escalating the Russia-Ukraine conflict, India’s continued oil imports from Russia could become less contentious—possibly removing one of the major obstacles to renewed US–India trade discussions.
A breakthrough at the Alaska meeting could thus provide the diplomatic cover needed for both sides to resume stalled trade talks, feel some experts.
Though still speculative, the summit’s outcome will be closely watched by Indian industry leaders and policymakers for sure. That it falls on India’s Independence Day only adds a symbolic twist—depending on how the talk plays out, it could pave the way for easing the tariff pressure. But if things go south, a further strain in trade relations remains a distinct possibility.
Fibre2Fashion News Desk (DR)
The agreement covers the construction and operation of a 360-kilometre railway linking the main mining areas of Al-Shidiya and Ghor Al-Safi to the Port of Aqaba.
The United Aran Emirates and Jordan recently an agreement to develop a railway network in Jordan and establish the UAE-Jordan Railway Company.
The agreement covers the construction and operation of a 360-kilometre railway linking the main mining areas of Al-Shidiya and Ghor Al-Safi to the Port of Aqaba.
The project aims at transporting 16 million tonnes of phosphate and potash annually.
The project aims at transporting 16 million tonnes of phosphate and potash annually, with a total investment value of $2.3 billion. Both phosphate and potash are chemicals used in the textile industry.
The agreement was signed by UAE Minister of Energy and Infrastructure Suhail bin Mohamed Al Mazrouei and Jordan’s Minister of Transport Nidal Al-Qatamin.
The UAE-Jordan Railway Company was formally established as a joint venture between Abu Dhabi’s L’IMAD Holding Company (L’IMAD) and several Jordanian stakeholders, according to an official release in the UAE.
The joint venture will be responsible for the implementation, operation and maintenance of Jordan’s railway network through its executing arm, Etihad Rail, the developer and operator of the UAE’s national railway network.
The project will enhance Jordan’s export capabilities and logistics efficiency by directly linking phosphate and potash production sites to the Port of Aqaba, significantly reducing transport time and costs.
It will also support comprehensive economic development and open wide prospects for job creation across multiple sectors, leveraging the extensive expertise of Etihad Rail.
Fibre2Fashion News Desk (DS)
With more than two decades of experience in the sports industry, James brings a unique combination of skills, which will help PUMA use creative direction as an important strategic lever to establish itself as a top-3 global sports brand.
Puma has appointed James Carnes as senior vice president creative direction.
Reporting to Maria Valdes, he will oversee creative direction, innovation, and product excellence.
With over two decades of experience, including leadership roles at Adidas, he will align design strategy with business goals to strengthen Puma’s global brand appeal and market position.
“James is a very highly regarded leader in our industry and he has been instrumental in shaping some of the most influential performance and lifestyle products, labels, and platforms,“ said Maria Valdes. “With a strong background in industrial design and a deep understanding of both athletes and consumers, he will play an important role in getting our customers and consumers excited about PUMA once again.”
Until 2021, James held several leadership positions in design, creative direction and strategy at adidas, both in Herzogenaurach and Portland, Oregon. Most recently he worked as an independent consultant and investor in the wider industry.
At PUMA, James will align creative direction with the company’s overall strategic ambitions, set the seasonal direction for the Business Units and create a long-term look and feel for the brand across consumer touch points.
“Creative Direction is about more than seasonal trends and colours. It is about defining how PUMA holistically presents itself in the market, harnessing the company’s portfolio of world class innovation, and deeply connecting with consumers,” said James Carnes. “We have the amazing opportunity to modernize the image and style of one of the most iconic sports brands in the world and I look forward to leading our teams and collaborating with my colleagues to make this happen.”
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)
China will step up building a higher-level China-Vietnam community with a shared future that carries strategic significance, Chinese President Xi Jinping said while holding talks with visiting Vietnamese President To Lam.
China and Vietnam are accelerating efforts to navigate bilateral trade towards a more balanced and sustainable course.
President Xi Jinping recently held talks with visiting Vietnamese President To Lam.
During the visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.
Xi said both countries should work together in their modernisation drive, accelerate the alignment of development strategies and prioritise infrastructure connectivity.
While meeting Chinese Minister of Commerce Wang Wentao during the state visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.
Wang said both sides should focus on implementing the high-level common perceptions, including raising bilateral trade turnover to $500 billion in future.
Hung urged China to expand imports of Vietnamese goods, broaden the list of products eligible for tariff preferences and further open its market. He also called for the mutual recognition of quarantine results for agro-forestry-fishery products, facilitation of Vietnamese exports via cross-border e-commerce, and expansion of Vietnam’s trade promotion offices across Chinese localities, according to a Vietnamese news agency.
China will continue to support Vietnam in setting up additional trade promotion offices, following those already established in Chongqing, Hangzhou and Haikou, Wang responded.
China also expressed readiness to support Vietnam’s stronger exports through cross-border e-commerce, encouraging greater visibility of the Vietnam National Pavilion on Chinese e-commerce platforms beyond JD.com to better promote Vietnamese products to Chinese consumers.
China has consistently been Vietnam’s largest trading partner and second-largest export market, while Vietnam continues to be China’s biggest trading partner in the Association of Southeast Asian Nations (ASEAN).
Fibre2Fashion News Desk (DS)
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