US President Donald Trump recently called for fresh tariffs of up to 100 per cent on goods originating in China, while urging member nations of the North Atlantic Treaty Organisation (NATO) to stop purchasing oil from Russia.

Trump feels such measures would swiftly end the war in Ukraine.

President Donald Trump has called for fresh tariffs of up to 100 per cent on goods originating in China, while urging NATO members to stop purchasing Russian oil.
He feels China’s support was vital to Russia’s war effort and such measures would swiftly end the Ukraine war.
“China has a strong control, and even grip, over Russia, and these powerful Tariffs will break that grip,” he wrote on Truth Social.

In a post on Truth Social, which he described as “a letter to all Nato nations and the world,” Trump claimed that only decisive economic action could stop a ‘deadly, but ridiculous, war’.

He accused some members of the bloc of weakening the alliance by continuing to buy Russian oil. NATO had failed to fully commit to defeating Moscow, he insisted.

“I am ready to do major Sanctions on Russia when all Nato Nations have agreed, and started, to do the same thing, and when all Nato Nations STOP BUYING OIL FROM RUSSIA,” Trump wrote. “Anyway, I am ready to ‘go’ when you are. Just say when?”

His call for imposing punitive tariffs on China is because he feels China’s support was vital to Russia’s war effort.

“China has a strong control, and even grip, over Russia, and these powerful Tariffs will break that grip,” he wrote, suggesting the tariffs would be lifted once the conflict ended.

“This is not TRUMP’S WAR (it would never have started if I was President!), it is [Joe] Biden’s and [Volodymyr] Zelenskyy’s WAR,” he said in his social media post.

“If Nato does as I say, the WAR will end quickly, and all of those lives will be saved! If not, you are just wasting my time, and the time, energy, and money of the United States,” he added.

Fibre2Fashion News Desk (DS)

The central banks of China and Indonesia recently launched a local currency settlement framework for bilateral transactions to facilitate further use of local currencies in trade and investment.

The new framework is based on a memorandum of understanding signed in May this year, which upgraded a previous cooperation framework by expanding the scope of local currency settlements to cover all balance-of-payments items.

The two central banks also announced the start of a two-way trial of a cross-border QR code interconnection project, which will allow transactions to be settled in local currencies and is expected to be fully operational this year, a Chinese state-controlled news outlet reported.

The central banks of China and Indonesia have launched a local currency settlement framework for bilateral transactions to facilitate further use of local currencies in trade and investment.
Both also announced the start of a two-way trial of a cross-border QR code interconnection project, which will allow transactions to be settled in local currencies and is expected to be fully operational this year.

The two banks will also establish a joint working mechanism to institutionalise bilateral cooperation further, and to promote deeper, more solid financial cooperation, the central bank of China said.

Fibre2Fashion News Desk (DS)

Kering’s full takeover of Valentino may be delayed but the French luxury giant is still deepening its ties with the Italian label.

On Monday, Kering Eyewear and Valentino officially announced a newly signed global agreement. The exclusive collaboration will grant Kering Eyewear the rights to develop and distribute the sun and optical collections under the Valentino brand as of the start of next year.

The company said it marks “the beginning of a long-term partnership between these two global players in the luxury business”. 

Roberto Vedovotto, founder, president and CEO of Kering Eyewear, said: “We are honoured to welcome Valentino into the Kering Eyewear portfolio, and to have the opportunity to contribute to the brand’s continued success. As a prestigious Maison de Couture, Valentino stands for masterful craftsmanship, exquisite design, and is a symbol of a one-of-a-kind style. We are therefore committed to developing its sunglasses and frames collections in line with its vision by leveraging Kering Eyewear’s expertise in high-end luxury eyewear and Valentino’s iconic codes, unique heritage, and savoir-faire.”

And Valentino CEO Riccardo Bellini added: “We are delighted to announce this strategically important partnership with Kering Eyewear. Marrying Maison Valentino’s matchless creativity and iconic style with Kering Eyewear’s unrivalled knowhow in luxury eyewear manufacturing and distribution, we will work together to further elevate the Valentino Eyewear experience. We also wish to express our sincere gratitude to AKN Group for the collaboration and the successful development of our eyewear business over the past years. It is with great enthusiasm and excitement that we now embark on this new chapter.”

They also said the deal represents an important step for Valentino’s brand positioning in the eyewear category “leveraging on the unique approach to luxury and innovative business model of Kering Eyewear”. 

The collab sees Kering Eyewear further “consolidating its leadership in the high-end eyewear segment, elevating its offer through the addition of an iconic brand celebrated for its unparalleled creative excellence and emotional beauty”.

The first collection under the agreement will be for SS26 and will be presented during the Valentino Show in Paris on October 5. It will be in-store next March.