Fashion
S African trade minister meets USTR to discuss high trade tariffs
The 30-per cent US tariff poses a significant threat to South Africa’s economy grappling with growth challenges and high unemployment. It could also lead to substantial job losses.
South African trade minister Parks Tau recently met US trade representative Jamieson Greer in Washington, DC, to discuss a rollback of the high tariffs imposed by the US administration.
The 30-per cent tariff poses a significant threat to South Africa’s economy grappling with growth challenges and high unemployment.
Both sides want to set up a road map for future engagement.
Both sides want to set up a road map for future engagement and resolve ongoing trade and diplomatic issues.
While South Africa’s trade ministry reported a constructive meeting, US trade officials have been silent on the deliberations.
Trump earlier accused the South African government of discrimination against the white minority, affecting bilateral relations.
The United States remains a key trade and investment partner for South Africa, with bilateral trade at $15.1 billion in 2024, the American Chamber of Commerce’s chapter in the country reported.
South Africa’s exports to the United States were valued at $8.2 billion in 2024; while US imports into the former were worth $6.9 billion. There are over 600 US companies in South Africa and more than 22 South African companies in the United States.
Fibre2Fashion News Desk (DS)
The April figure was far below market forecasts of a 15,000 gain.
Full-time jobs dropped by 10,700 in April after a sharp rise in March.
Australia’s net employment fell by 18,600 month on month in April.
The April figure was far below market forecasts of a 15,000 gain.
Full-time jobs dropped by 10,700 in April after a sharp rise in March.
The unemployment rate rose to 4.5 per cent in April, the highest since November 2021, while the labour force participation rate eased to 66.7 per cent.
The unemployment rate rose to 4.5 per cent in April, the highest since November 2021. The labour force participation rate eased to 66.7 per cent.
The official statistical agency observed that a drop in female employment—the first since August 2025—drove the overall fall.
Fibre2Fashion News Desk (DS)
The Indian PET resin market witnessed significant week-on-week fluctuations during March-May ****. During the first week of March, Asia domestic India PET bottle flakes prices were assessed near $*.** per kg and remained largely stable on a weekly basis. However, during the second week of March, prices sharply increased to around $*.** per kg, reflecting a week-on-week rise of nearly ** per cent amid tight domestic supply conditions and reduced producer operating rates. In the third and fourth weeks of March, prices increased further to nearly $*.** per kg, marking an additional weekly gain of around * per cent. The bullish momentum continued into the first week of April, when prices touched nearly $*.** per kg, reflecting another week-on-week increase of approximately * per cent.
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The country imported apparel worth $**.*** million during January-March ****, up **.* per cent from $**.*** million in the corresponding period of ****. The latest figures indicate that inbound apparel shipments have remained on a steady growth path since ****, according to *fashion.com/market-intelligence/texpro-textile-and-apparel/” target=”_blank”>sourcing intelligence tool TexPro.
The Russia-Ukraine war has had a significant economic impact on Georgia. The conflict triggered a large influx of Russian and Ukrainian migrants, which initially acted as an economic boon for the country. It fuelled rapid growth, lifted consumer spending, and increased demand for housing, services, textiles, and apparel. However, the war also deepened geopolitical polarisation and accelerated Georgia’s economic and energy reliance on Moscow.
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