Over the past five months, tariffs have shaken the entire fashion industry in the US and beyond. Everyone, from independent designers to the major conglomerates, has been affected. On 29 May, Anna Wintour, global editorial director of Vogue and chief content officer of Condé Nast, visited the White House with Steven Kolb, CEO of the…
This month the UK has signed trade deals with India, the US and the European Union. At a time of worry about the prospects for world trade, this should be a reason for feeling less depressed about the outlook for Britain. But the deals, while better than none, might not merit even one cheer. The…
Trump announces trade agreement with UK (Photo: AP) US President Donald Trump announced Thursday an agreement with Britain on trade, which would be the first such deal since he launched his global tariffs blitz.Trump provided no details about the scope of the agreement, which comes a month after he imposed sweeping tariffs on US trading…
In the past month, global fashion brands have been scrambling to make sense of President Donald Trump’s ‘Liberation Day’ tariffs. Production and material costs quickly spiked for independent brands, suppliers in established garment manufacturing countries saw orders paused or cancelled, and share prices slumped across the industry. As fashion reeled over rising prices, many looked…
The US trade war has not had a significant impact on Macau, but the city will explore more business opportunities in Southeast Asian countries to diversify its economy, its leader has said. Macau Chief Executive Sam Hou-fai said in a media briefing on Sunday that while the city would inevitably be affected by the US…
Though Trump’s grand vision is “better-paying American jobs making beautiful American-made cars, appliances, and other goods”, mass reshoring appears an unlikely scenario. Fashion brands interviewed by Vogue Business have pointed to the fact that the US simply doesn’t have the breadth of raw materials needed. Meanwhile, 61 per cent of respondents to a CNBC survey…
Cathay Pacific Airways’ passenger traffic levels grew by 19.8 per cent year on year in March, with Hong Kong’s flag carrier anticipating uncertainties for its cargo business amid sweeping US tariffs. The airline said on Wednesday that March had been a “quieter month” in terms of travel business, recording about 2.26 million passengers for the…
BEIJING: Chinese foreign minister Wang Yi on Tuesday urged Britain and the EU to safeguard multilateral trading systems, as Beijing seeks to rally support from trading partners to counter US tariff measures. Wang told British foreign secretary David Lammy in a phone call that China and Britain had a responsibility to uphold international order in…
Hong Kong’s chief executive will lead a delegation to the cities of Hangzhou and Ningbo, a technological powerhouse and an industrial hub in mainland China’s Zhejiang province, on Tuesday to set up a “specific cooperation mechanism” to strengthen ties. John Lee Ka-chiu will be joined by seven top Hong Kong officials on the three-day trip…
Hong Kong’s e-commerce operators are exploring new markets and delaying major business decisions in light of US tariffs, industry players have said. One industry body said e-commerce firms could look towards expanding their operations in traditional markets when diversifying their business, while also exploring emerging ones in Southeast Asia, as well as Central and South…