Fashion
US ETR dips to 9.4% as blanket 10% tariff replaces IEEPA levies: Fitch
If the US administration imposes a 15-per cent levy, the US ETR would rise to 11.3 per cent.
President Donald Trump reinstated tariffs immediately following the US Supreme Court’s February 20 ruling that invalidated the reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The new blanket 10-per cent tariff rate is authorised under Section 122 of the Trade Act of 1974 and expires in 150 days unless extended by Congress.
The 10-per cent blanket reciprocal tariff imposed by the US on most trading partners has reduced the US effective tariff rate (ETR) to 9.4 per cent from 12.7 per cent, Fitch Ratings said.
If a 15-per cent levy is imposed, the ETR would rise to 11.3 per cent.
China has the highest ETR among trading partners, followed by Vietnam, Japan and Brazil.
China’s ETR is around 19 per cent from 29 per cent earlier.
Section 122 permits a maximum rate of 15 per cent but does not allow for tariff adjustments for individual countries.
Prior to the court decision, China was subject to two reciprocal tariffs: a fentanyl tariff of 10 per cent that applied to all imports and a 10-per cent reciprocal tariff on an import base subject to carveouts. The two tariffs have been consolidated into the 10-per cent blanket tariff, reducing China’s ETR to around 19 per cent from 29 per cent, Fitch said in a release.
China still has the highest ETR among major trading partners, followed by Vietnam, Japan and Brazil. Of the United States’ 31 largest trading partners, 26 will see their ETRs decline. Brazil benefits the most, with its ETR decreasing by 18 percentage points (pp) to 11 per cent from 29 per cent.
ETRs for most countries largely remain unchanged following the switch in tariff regimes, and no country will see an increase in its ETR if the Section 122 tariff rate remains at 10 per cent.
Fibre2Fashion News Desk (DS)
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)
British actors Simone Ashley and Tom Blyth star alongside models Alva Claire, Babacar N’Doye and Sacha Quenby and a cast of synchronised swimmers and divers.
Burberry’s High Summer 2026 campaign captures Britain’s nostalgic lido culture through a sunlit film featuring Simone Ashley and Tom Blyth.
Blending heritage check with pastel tones, the collection spans swimwear, relaxed tailoring, raffia bags and lightweight layers, evoking effortless, poolside summer style.
Directed by Francis Plummer, the campaign reflects a warm, communal British summer mood.
The campaign film is directed by Francis Plummer and shot by photographer Ryan McGinley. The cameras move from loungers to diving boards, catching mid-air dives and friends stretched out in the hazy afternoon light. Before long, the best spots by the pool are claimed with a Burberry towel. Summer has begun. The film is underscored by the TONE remix of ‘Beating’ by Tirzah.
‘A lido holds a particular kind of nostalgia for the British. The moment the sun comes out, we make the most of the weather. We wanted to bring to life a warm summer’s day spent in and around the water’s edge with friends.’ said Daniel Lee Chief Creative Officer, Burberry.
Key styles
The High Summer 2026 collection features the Burberry Check in heritage-inspired sand beige and pastel shades of aubergine purple and cornflower blue.
The iconic Burberry Check bikini is the beach essential, alongside matching swimsuits and men’s swim shorts trimmed with check.
Poolside separates include tops, skirts and shirts cut from cotton voile, plus cover-up dresses woven with a tonal Burberry Check and deckchair-inspired stripes. Ruffled trims and ties at the neckline capture the floaty, effortless feel of the collection. Festival
tank tops in ribbed cotton jersey are trimmed with check straps, while looks are wrapped in lightweight wool silk scarves.
For men, collared shirts and shorts are tailored to relaxed lines and finished with fresh interpretations of the Burberry Check, from textural weaves to intricate embroidered designs. The co-ord set is crafted from lightweight cotton poplin printed with a playful seahorse pattern in honeysuckle pink.
The classic cotton piqué polo shirt comes in a spectrum of vivid and neutral colours. Burberry Check is subtly placed at the placket and trims the collar of T-shirts in soft cotton jersey.
Lightweight hooded jackets are ideal for cooler evenings and unexpected showers, the new-season designs woven in aubergine purple and cornflower blue check.
In shoes, the new Knight Runner sneakers offer a streamlined, low-profile shape for summer. Sandals are elevated in the form of the whipstitched leather Baez and check-trimmed suede Urchin styles, while Burberry Check slides and Pavilion sandals are made for the beach.
Lightweight Margate bags are handcrafted in Madagascar from locally sourced raffia palm leaves, dyed in signature sand beige Burberry Check. Accessories include crocheted bucket hats and wraparound sunglasses, designed to shield from the sun.
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 (JP)
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