US-China trade deal brings limited benefits for apparel firms
The 'Phase One' trade agreement signed between the US and China is a step in the right direction after almost two years of trade tensions, but it offers little relief to apparel firms in the ongoing trade conflict with punitive tariffs remaining on 92% of the clothing shipped from China to the US.
Meanwhile, the European Union has warned it will respond to any additional US tariffs with duties of its own on US products in an ongoing trade spat over aircraft subsidies.
The trade bloc has also concluded the first round of negotiations with five Eastern and Southern Africa (ESA) countries – including clothing producers Madagascar and Mauritius – to deepen the existing Economic Partnership Agreement (EPA).
Last Update 2020-01-28