Fashion
US families paid $1,200 each in tariff costs in Feb-Nov: JEC-Minority
Combining Treasury Department data on the amount of tariff revenue collected across the first ten months of Trump’s term (February-November 2025) with independent private sector estimates of the per cent of each tariff dollar that is paid by American consumers, the Committee found that American consumers paid in total nearly $160 billion in tariff costs during the period.
American families have already paid nearly $1,200 each in tariff costs since President Donald Trump took office, according to estimates presented in a new report by the Joint Economic Committee (JEC)-Minority.
If monthly tariff costs remain as high as they were in November over the next 12 months, families will pay an average of $2,100 per year due to tariffs, it noted.
“While President Trump promised that he would lower costs, this report shows that his tariffs have done nothing but drive prices even higher for families,” said Senator Maggie Hassan, ranking member of the Committee.
“At a time when both parties should be working together to lower costs, the President’s tax on American families is simply making things more expensive,” he noted in a release.
This tax on American consumers is already creating significant challenges for families, and studies suggest that families will pay an even greater share of tariff costs in the future, the report found.
If monthly tariff costs remain as high as they were in November over the next 12 months, families will pay an average of $2,100 per year due to tariffs, it added.
Fibre2Fashion News Desk (DS)
As a result, the industry’s **** climate deadline depends on delivering sharp near-term emissions reductions, accelerating the shift to renewable energy and aligning business models with a *.*°C trajectory. However, global assessments suggest the sector is unlikely to meet these goals on its current trajectory. According to the Apparel Impact Institute (Aii), a global nonprofit focused on reducing the environmental impact of the apparel and footwear industry, sector emissions remain far from the pathway required to limit global warming to *.*°C. Industry greenhouse gas emissions rose by *.* per cent in **** compared with ****, marking the first year-on-year increase since tracking began in ****.
Analysis by global management consulting firm McKinsey and fashion advocacy group Global Fashion Agenda indicates that emissions must fall to about *.* billion tonnes of carbon dioxide equivalent by **** to stay aligned with a *.*°C pathway. Without stronger action, continued industry growth could push emissions to nearly twice that level.
Indonesia’s second-hand clothing boom, despite a long-standing ban on importing used clothes (since ****) aimed at protecting the domestic textile industry, preventing health and environmental risks, and promoting local production, is fast becoming one of the country’s most troubling economic and environmental dilemmas.
What began as an underground trade catering to budget-conscious shoppers has evolved into a full-blown national concern—one that is hollowing out the industry, overwhelming landfills, and upending the domestic market.
The Conference Board (TCB) Leading Economic Index (LEI) for the United Kingdom edged down by 0.1 per cent in October 2025 to 74.1 (2016=100), marking a second consecutive monthly decline after a similar fall in September. As a result, the UK LEI contracted by 0.8 per cent over the six-month period from April to October 2025.
The UK Leading Economic Index fell 0.1 per cent in October 2025, extending its decline and signalling continued weakness in forward-looking indicators.
Over six months, the LEI contracted 0.8 per cent, though less sharply than earlier in the year.
Meanwhile, the Coincident Economic Index rose marginally, but its six-month growth slowed sharply, indicating softer underlying economic momentum.
While this indicates continued softening in forward-looking economic signals, the pace of decline was notably slower than the 1.5 per cent contraction recorded between October 2024 and April 2025, suggesting some moderation in downside momentum, TCB said in a release.
In contrast, the Conference Board Coincident Economic Index (CEI) for the UK rose by 0.1 per cent in October 2025 to 108.1 (2016=100), reversing a 0.1 per cent decline in September. Despite this monthly improvement, overall growth in current economic activity remained subdued.
The CEI increased by just 0.2 per cent between April and October 2025, well below the 1 per cent expansion seen in the previous six-month period from October 2024 to April 2025.
Fibre2Fashion News Desk (HU)
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