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USTR Greer talks trade with Swiss as Swatch CEO blasts approach

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USTR Greer talks trade with Swiss as Swatch CEO blasts approach


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Bloomberg

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November 9, 2025

US Trade Representative Jamieson Greer held a video call with top Swiss officials following this week’s diplomatic mission to the White House from captains of Swiss industry, as the country looks to negotiate a reduction in the punishing 39% tariff the US has imposed on Switzerland.

Jamieson Greer – Bloomberg

Greer held the virtual meeting with his Swiss counterpart Helene Budliger Artieda and economy Minister Guy Parmelin, according to a Linkedin post by the Swiss government late on Friday.

“Very constructive conversation with Ambassador Jamieson Greer on Trade and Investment,” the Swiss Federal Department of Economic Affairs said in the post. “Great new dynamic in our bilateral relations, thanks to President Trump.”  

It features screenshots and photos of all three in discussion, and is followed by dozens of likes and messages of encouragement from Swiss executives. The virtual gathering follows the in-person meeting in the Oval Office earlier this week between the CEOs of top Swiss companies and President Donald Trump.  

Those present included Alfred Gantner, the founder of Partners Group Holding AG, Rolex SA boss Jean-Frederic Dufour, Daniel Jaeggi of commodity trader Mercuria Energy Group Ltd, Richemont SA Chairman Johann Rupert, Diego Aponte of shipping firm MSC and Marwan Shakarchi of MKS Pamp SA, a gold refiner. 

While Dufour and Rupert are both influential figures in the luxury goods industry, their rival Nick Hayek, the outspoken CEO of Swatch Group AG took a very different tack. 

“The only king I court is the customer,” Hayek told Swiss newspaper Tages-Anzeiger, perhaps in reference to the recent ‘No Kings’ protests against Trump’s presidency. 

Hayek, whose company is the world’s largest watchmaker, said the CEOs’ visit sent a signal of weakness. Instead, he suggested that Switzerland — the seventh-largest investor in the US — should retaliate by threatening to cut investment, or ditch a deal to buy US-made F-35 jets. 

“Are we William Tell,” he quipped in reference to the Swiss hero of folklore, “or are we a vassal?”

Trump’s tariff announcement, delivered on Switzerland’s national holiday, landed Swiss exporters with a rate higher than any other developed nation. The levy, which took effect in August, threatens to drive up costs for chocolatiers including Lindt, watchmakers and precision-tool manufacturers.  

Budliger Artieda has made repeated trips to Washington in recent weeks in the hope of resolving the impasse. While demand for Swiss goods has, in some cases, withstood the impact of the tariffs, Bern has cut its growth forecast for next year, acknowledging the likelihood of economic damage.



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Fashion

DGFT reform unlocks $37 bn export boost for India trade growth

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DGFT reform unlocks  bn export boost for India trade growth



On March **, ****, India’s Directorate General of Foreign Trade (DGFT) issued Notification No. **/******, amending Para *.** of the Foreign Trade Policy and removing the long-standing ****;** lakh (about $**,***) per-consignment cap on courier exports. From April *, exporters can send consignments of any value through courier mode instead of splitting higher-value orders into smaller parcels.

For textiles and apparel, this is more than a procedural tweak. The sector is no longer driven only by large container-based orders from global retailers. It is increasingly shaped by samples, capsule drops, repeat orders, customised runs, premium home textiles, craft-led fashion, and direct-to-consumer cross-border fulfilment. In that world, courier flexibility matters.



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US’ Reebok & GLDN PNT launch padel apparel collection

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US’ Reebok & GLDN PNT launch padel apparel collection



Reebok, the iconic and irreverent sports culture brand, and GLDN PNT, an activewear racquet sports brand born from the community of padel, are joining forces to launch a performance-driven apparel collection designed for athletes and enthusiasts.

Padel, one of the world’s fastest-growing sports, has seen an explosion of participation and fan engagement in recent years. Recognizing the sport’s surging popularity and vibrant community, Reebok is stepping onto the padel court through a collaboration with GLDN PNT—a brand born from and built for the padel movement.

Reebok has partnered with GLDN PNT to launch a performance-driven padel apparel collection, tapping into the sport’s rapid global growth.
The range includes technical tees, tanks, bras and shorts designed for modern players, combining innovation, functionality and style, while strengthening Reebok’s presence in the fast-expanding padel community.

The Reebok x GLDN PNT collection features a range of high-performance apparel, including the ID Train Short Sleeve Tech Tee, Speed Racer Tank, ID Performance Tech Tee, ID Train Tri Back Bra, and WOR 9 in Woven Short. Each piece is designed with the modern padel player in mind, blending innovative materials, functional design, and bold style.

“Padel is more than a sport—it’s a global movement, and we’re thrilled to partner with Reebok to raise the bar for padel apparel,” said Scott London, Founder of GLDN PNT. “Our mission has always been to celebrate the culture and community of padel, and this collaboration gives us the reach and resources to inspire even more players around the world. We’re making the moment count—on and off the court.”

For Reebok, this partnership represents an opportunity to join the padel community in a meaningful and authentic way.

“Padel’s incredible growth represents the kind of energy and passion that Reebok has championed for decades,” said SVP of Reebok, Daniel Schachne. “By collaborating with GLDN PNT, a brand deeply rooted in the sport, we’re excited to deliver innovative performance apparel to padel athletes everywhere and support the vibrant community driving the sport forward.”

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 (RM)



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India extends RoSCTL scheme till Sept 2026 to support apparel exports

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India extends RoSCTL scheme till Sept 2026 to support apparel exports



The Government of India has extended the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for exports of apparel, garments, and made-ups till September 30, 2026, or until it is approved under the next Finance Commission cycle, whichever is earlier.

The extension comes at a time when exporters are facing heightened pressure from geopolitical uncertainties, volatile demand, and rising logistics and input costs. By continuing the scheme, the government aims to provide stability and cost support to the labour-intensive apparel sector.

The extension of RoSCTL till September 30, 2026, or until the next Finance Commission approval, provides interim policy clarity amid global demand and cost pressures. Continued structure and rates support pricing competitiveness for apparel exporters.
However, its temporary nature signals a likely recalibration of export incentives in the upcoming policy cycle.

The scheme will continue without any change to its structure, coverage, rates, or eligibility criteria, ensuring policy continuity for exporters. Rebates will be provided through transferable duty credit scrips in a fully digital format, supporting ease of use and faster processing.

To maintain fiscal discipline, expenditure under the scheme will be reviewed on a quarterly basis by an inter-ministerial committee. The government has also retained the flexibility to revise rates and caps depending on evolving conditions, while keeping eligibility norms unchanged.

Effective April 1, 2026, the extension provides interim visibility to exporters as the government works towards finalising a longer-term framework under the upcoming Finance Commission period.

Fibre2Fashion News Desk (KUL)



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