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US-China port fee truce to begin on Nov 10 for 1 year

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US-China port fee truce to begin on Nov 10 for 1 year



The United States and China recently agreed to suspend for a year beginning November 10 their respective port service fees on vessels with a US or Chinese nexus.

The agreement follows trade discussions and aims at stabilising bilateral maritime and economic ties.

The United States and China recently agreed to suspend for a year beginning November 10 their respective port service fees on vessels with a US or Chinese nexus.
The agreement follows trade discussions in Seoul and aims at stabilising bilateral maritime and economic ties.
Further clarification is awaited, including whether fees will continue to be charged in the interim period up to November 10.

A White House fact sheet confirms that a ‘trade and economic deal’ was reached in South Korea between US President Donald Trump and his Chinese counterpart Xi Jinping.

“The United States will suspend for one year, starting on November 10, 2025, implementation of the responsive actions taken pursuant to the Section 301 investigation on China’s Targeting the maritime, logistics and shipbuilding sectors for dominance. In the meantime, the United States will negotiate with China pursuant to Section 301 while continuing its historic cooperation with the Republic of Korea and Japan on revitalizing American shipbuilding,” the fact sheet said.

Following the US suspension, China will also suspend implementation of its countermeasures against the United States for a year, the Chinese Ministry of Commerce said.

Further clarification is awaited, including whether fees will continue to be charged in the interim period up to November 10.

Fibre2Fashion News Desk (DS)



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US–APAC trade deals offer stability, modest GDP boost: Fitch

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US–APAC trade deals offer stability, modest GDP boost: Fitch



The recent series of bilateral trade agreements between the US and several Asia-Pacific (APAC) countries have reduced uncertainty around the outlook for Asia’s exporters and could provide a slight lift to gross domestic product (GDP) over the next few years for the countries involved, according to Fitch Ratings.

Between October 20 and 30, the US finalised trade pacts with China, Japan, Korea, Vietnam, Malaysia, Thailand, Australia, and Cambodia. The most notable change is the halving of the 20 per cent US tariff on Chinese goods linked to fentanyl-related categories, effectively lowering China’s average tariff rate by around 10 percentage points (pps), Fitch said in its latest commentary.

Both nations have also agreed to pause new restrictions on critical exports—such as China’s rare earth curbs and the US licensing expansions—creating a temporary reprieve in escalating trade tensions.

US-APAC trade deals with eight nations, including China, Japan, Korea, and Vietnam, ease uncertainty and may modestly lift regional GDP, according to Fitch Ratings.
The halving of US tariffs on Chinese goods and paused export curbs could boost confidence and investment.
Benefits will be gradual and uneven, with India still excluded and fiscal risks rising in some APAC economies.

Fitch expects the new arrangements to provide a mild uplift to growth in China, the US, and indirectly to key export-oriented economies like Korea and Vietnam during 2026–2027. Greater tariff stability is anticipated to restore business confidence, enabling medium- and long-term supply-chain investments, particularly in Malaysia, Thailand, and Vietnam. Meanwhile, new commitments on rare earth sourcing could attract investment into Southeast Asia and Australia, though the macroeconomic impact will be modest in the near term.

Fitch foresees Korea’s export growth slowing in 2026 due to lingering US tariffs and softer demand from China. Japan and Korea’s promised investments in US industries may also pressure foreign-exchange reserves and carry sovereign credit implications if executed aggressively.

Several APAC economies, including Indonesia, Korea, the Philippines, and Thailand, have adopted looser fiscal policies to offset risks from US tariff actions. Fitch warned that such fiscal expansion could hinder debt consolidation efforts, a key rating sensitivity for these sovereigns.

India remains outside the recent deal framework, leaving its exports exposed to a 50 per cent US tariff—significantly higher than for most other Asian partners. The absence of a deal may weaken its competitiveness, though discussions for a future accord are ongoing.

Fitch concluded that while the US–APAC trade deals mark a stabilising shift after years of volatility, the benefits will be gradual and uneven. Key uncertainties—tariff implementation, investment follow-through, and geopolitical risks—will determine whether the agreements translate into sustained regional growth.

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Casablanca opens its first store in the United States, in Los Angeles

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Casablanca opens its first store in the United States, in Los Angeles


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November 6, 2025

Five months after opening its first boutique on Rue du Faubourg Saint-Honoré in Paris, the Casablanca brand and its founder and artistic director Charaf Tajer announced on Thursday the opening of their first boutique in the United States, at 469 North Rodeo Drive in Beverly Hills. 

Casablanca store at 469 North Rodeo Drive, Beverly Hills – Josh Cho

Located at the corner of Santa Monica Boulevard and Rodeo Drive, the boutique pays tribute to Los Angeles, a city that has been a source of inspiration for Tajer.

“When I was younger, I’d go to LA and be quite obsessed by its many cultures: from skateboarding, cinema, music, the Chicano culture, the architecture and design movements”, said Tajer. “The city is a living paradox. It’s a sunny place by the sea, but it can also be tough and extreme. This utopia of America offset by its grittiness, the fast-paced business and the celebrity. This has many messages, but this raw mix of industry and subculture creates a unique harmony that makes the city. It’s the same philosophy we explore at Casablanca. We love juxtapositions that create something new, that’s our design ethos.” 

The new flagship store occupies a former bank located in a 20th-century building with soaring ceilings over 10 meters high. The impressive façade features a series of large arches.

A giant sculpted foot stands in the middle of the store, echoing the Greek architecture of the building.
A giant sculpted foot stands in the middle of the store, echoing the Greek architecture of the building. – Josh Cho

Tajer and Steve Grimes, the brand’s artistic director, discovered the location about two years ago and transformed the building into a store that reflects Casablanca’s philosophy, preserving its monumental Greek-inspired architecture and reinterpreting it through a contemporary lens.

“LA is a cultural institution”, adds Grimes. “There is an alluring energy within the city, and having a store in such a prestigious location feels like we are now part of that cultural heritage. Since my first visit, driving down the freeway from LAX and experiencing the views firsthand had an almost nostalgic feel to it – the world has such exposure to the city through cinema, music and entertainment that we have a sense of emotional connection to it.”
 
Inside the store, a custom-designed audio system by Void makes music a central part of the Casablanca brand identity. In the center, a huge sculpted foot echoes movement and sport. A carmine red wall and antique and modern brushed metal furniture enrich the decor. Airy spaces alternate with more intimate areas punctuated by a few Greek columns.

Greek columns and carmine red set the tone for the decor.
Greek columns and carmine red set the tone for the decor. – Josh Cho

“Each store we open is about creating something timeless yet modern, with its own personality, but in our Casablanca design language and our handwriting”, continues Tajer. “LA is a home for Casablanca: it’s a place for our community to enjoy our world. We wanted a place where DJs can come play and people can hang out and talk about art and design. Opening our second store here is a tribute to a place that has really shaped us.”
 
Long known in the Parisian nightlife scene – he was notably artistic director of the Pompon parties – the Moroccan-born Frenchman was also co-founder of the Pigalle label alongside designer Stéphane Ashpool. Twenty years of experience, parties, travel and networking led him to launch his own brand in 2018.

A gradual but serious success, which led the brand to show at Paris Fashion Week a year later. Its second show, which transformed the gardens of the Musée de Montmartre into the “Café de Casablanca”, attracted a huge turnout of celebrities and guests from New York and California.
 
In recent years, the brand has also forged numerous collaborations. In 2022, Tajer added his tropical graphic signature to a collection of Bulgari bags. In 2023, he teamed up with Caviar Kaspia for a capsule ready-to-wear collection and a limited-edition caviar tin. The brand has also collaborated with S.T. Dupont and Nordstrom, organized memorable parties during Art Basel Miami, and opened its Casablanca Tennis Club in Abu Dhabi last February.
 

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US, Canadian, Mexican trade bodies urge US govt to extend USMCA

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US, Canadian, Mexican trade bodies urge US govt to extend USMCA



Welcoming the review of the United States-Mexico-Canada Agreement (USMCA), the US National Council of Textile Organizations (NCTO) recently urged the US administration to strengthen and extend the trade deal to preserve a crucial Western Hemisphere co-production chain, enhance customs enforcement, and confront predatory trade practices that threaten domestic jobs and supply chains.

NCTO expressed strong support for preservation of the current exemption of USMCA-qualifying trade from International Emergency Economic Powers Act (IEEPA) tariffs imposed to curb the flow of illicit fentanyl and illegal migration, while also calling for a similar exemption for qualifying trade under the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) currently subject to IEEPA reciprocal tariffs, in public comments submitted to the US Trade Representative’s (USTR) office.

Welcoming the review of the US-Mexico-Canada Agreement (USMCA), the US National Council of Textile Organizations recently urged the US administration to strengthen and extend the trade deal.
Meanwhile, AAFA and nine other fashion and retail trade bodies from the US, Canada and Mexico also wrote to the USTR requesting him to preserve the trilateral pact and extended it for 16 more years.

Meanwhile, the American Apparel & Footwear Association (AAFA) and nine other fashion and retail trade bodies from the United States, Canada and Mexico also wrote to the USTR requesting him to preserve the trilateral agreement and extended it for 16 more years.

“The USMCA’s clear, predictable rules of origin have been critical for our industries, and we believe overly burdensome and complex requirements would create unnecessary barriers and increase costs for businesses and working families,” they wrote.

“Further, maintaining duty-free access for USMCA-qualifying goods and avoiding additional tariffs, including under Section 232 of the Trade Expansion Act of 1962, for such goods is essential to enhancing supply chain integration and ensuring the region remains globally competitive,” the trade bodies said.

“We also urge the Administration to provide sufficient advance notice and clear compliance guidance prior to making any changes to the agreement,” they said.

The US textile industry ships $12.3 billion, or 53 per cent, of its total global textile exports to Mexico and Canada—by far the largest export markets for American textile producers. Those component materials often come back as finished products to the United States under the USMCA.

Key areas outlined by the NCTO for improvement of the USMCA include preserving and strengthening the agreement’s yarn-forward rule of origin, by limiting harmful exceptions to the rule, such as tariff preference levels and single transformation rules that weaken regional supply chains and disadvantage US manufacturers, and strengthening USMCA customs enforcement cooperation.

Fibre2Fashion News Desk (DS)



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