Connect with us

Fashion

Turkiye ends retaliatory tariffs on several US goods initiated in 2018

Published

on

Turkiye ends retaliatory tariffs on several US goods initiated in 2018



Turkiye has announced terminating retaliatory tariffs imposed in 2018 on several US imports in response to US tariffs on steel and aluminium imports enacted during President Donald Trump’s first term in office.

The list of covered products include cars, fruits, rice, tobacco, alcoholic beverages, solid fuels and chemical products.

Turkiye has announced terminating retaliatory tariffs imposed in 2018 on several US imports in response to US tariffs on steel and aluminium imports enacted during President Donald Trump’s first term.
The decision followed talks with the US and consultations within the WTO framework.
Ankara has, however, not retaliated against the US decision in August to impose a 15-per cent tariff on Turkish imports.

The Presidential decree was published in the country’s official gazette.

“Following positive negotiations with the US and consultations within the framework of WTO [World Trade Organisation] Dispute Settlement Mechanism reports, the additional financial obligations applied to imports of certain US-origin products have been terminated,” domestic media quoted the Turkish Trade Ministry as saying.

President Tayyip Erdogan is scheduled to attend the United Nations General Assembly in New York this week ahead of a meeting at the White House with Trump.

Ankara has, however, not retaliated against the US decision in August to impose a tariff rate of 15 per cent on Turkish imports.

Turkiye will continue to work towards meeting an existing goal of $100 billion in annual two-way trade with the United States, it said. Trade volumes between the two countries stood at roughly $30 billion last year.

Fibre2Fashion News Desk (DS)



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fashion

Philippine GDP expands 4% YoY in Q3 2025: Official data

Published

on

Philippine GDP expands 4% YoY in Q3 2025: Official data



The Philippine gross domestic product (GDP) grew at 4 per cent year on year (YoY) in the third quarter (Q3) this year, according to the Philippine Statistics Authority (PSA).

One of the main contributors to this growth was the growth in wholesale and retail trade.

All three major economic sectors—agriculture, forestry and fishing; industry; and services—posted YoY growths of 2.8 per cent, 0.7 per cent and 5.5 per cent respectively in the quarter.

The Philippine GDP grew at 4 per cent YoY in Q3 2025, official statistics show.
One of the main contributors to this growth was the growth in wholesale and retail trade.
Government final consumption expenditure, exports of goods and services, and such imports posted YoY growths of 5.8 per cent, 7 per cent and 2.6 per cent respectively in the quarter.
Gross national income grew by 5.6 per cent YoY.

On the demand side, household final consumption expenditure grew by 4.1 per cent YoY in the quarter.

Government final consumption expenditure, exports of goods and services, and such imports posted YoY growths of 5.8 per cent, 7 per cent and 2.6 per cent respectively.

Meanwhile, gross capital formation posted a decline of 2.8 per cent YoY.

Gross national income grew by 5.6 per cent YoY in the quarter, a PSA release said.

Net primary income from the rest of the world posted a YoY growth of 16.9 per cent during the quarter.

Fibre2Fashion News Desk (DS)



Source link

Continue Reading

Fashion

Jordan’s garment-leather exports up 3% YoY to $1.63 bn in Jan-Aug 2025

Published

on

Jordan’s garment-leather exports up 3% YoY to .63 bn in Jan-Aug 2025



Jordan’s garment and leather sector exported goods worth $1.636 billion during the first eight months this year—a 3-per cent year-on-year (YoY) increase, according to the Jordan Chamber of Industry.

Garments accounted for 90 per cent of the total exports in the sector during the period, Ihab Qadri, the sector’s representative at the chamber, said.

Qadri attributed the growth to strong external demand, particularly from European markets. The sector’s exports to Italy surged by 121 per cent YoY and to Germany by 97 per cent YoY.

Jordan’s garment and leather sector exported goods worth $1.636 billion between January and August 2025—a 3-per cent YoY rise, the Jordan Chamber of Industry said.
Garments accounted for 90 per cent of the total exports in the sector in the period.
The sector’s exports to Italy rose by 121 per cent YoY and to Germany by 97 per cent YoY.
A similar trend was seen in the Arab and Latin American markets.

A similar trend was witnessed in the Arab and Latin American markets as well. Exports to Saudi Arabia were up by 24 per cent YoY and shipments to Mexico rose by 20 per cent YoY during the period.

Exports to the United States rose by 5 per cent despite new US tariffs, domestic media outlets reported.

The garment and leather sector contributed 21 per cent of Jordan’s total industrial exports, Qadri said. The industry comprises over 1,000 factories, employing nearly 96,000 workers, 70 per cent of whom are women.

Qadri highlighted progress on a planned integrated industrial cluster for the leather and garment industries, supported by the International Finance Corporation (IFC). The project has completed feasibility studies and site selection, with promotional efforts underway to attract investment and local labour.

The cluster aims at strengthening supply chains, reducing production costs, accelerating delivery times and addressing challenges like raw material shortages that account for about 60 per cent of total production costs, he added.

Fibre2Fashion News Desk (DS)



Source link

Continue Reading

Fashion

Fine-count cotton yarn demand firms in south India; prices steady

Published

on

Fine-count cotton yarn demand firms in south India; prices steady



In Mumbai, demand remained slow as the weaving sector continues to face labour shortages. Cotton yarn prices have not shown significant movement in recent days. A trader from Mumbai told Fibre*Fashion, “A large number of power looms are closed or running partially due to a shortage of workers. Workers from Bihar are expected to return next week after voting. We hope cotton yarn demand will improve once they are back.”

In Mumbai, ** carded yarn of warp and weft varieties were traded at ****;*,****,*** (~$**.****.**) and ****;*,****,*** per * kg (~$**.****.**) (excluding GST), respectively. Other prices include ** combed warp at ****;****** (~$*.***.**) per kg, ** carded weft at ****;*,****,*** (~$**.****.**) per *.* kg, **/** carded warp at ****;****** (~$*.***.**) per kg, **/** carded warp at ****;****** (~$*.***.**) per kg and **/** combed warp at ****;****** (~$*.***.**) per kg, according to trade sources.



Source link

Continue Reading

Trending