Customs charges: European textile retains breathing
The European textile industry retains breathing. At the beginning of 180º, US President Donald Trump announced a 90 -day “gap” except China on Wednesday.
If its threat is realized, EU products have entered the United States by 20%of the additional fees.
In a moment of uncertainty, we took the pulse to the textile industry.
“European exports of textiles and clothing represent about 7.5 billion euros per year. So if Trump has 20%extra cost, is 1.5 billion in customs rights,” the European Clothing and Textile Convention (Euratex) Director (Euratex) (Euratex) (Euratex) (Euratex).
Italy, France and Portugal, the textile industry in Europe, will be the most affected European countries in this field. Although some customers are willing to pay extra cost, the host-cars will be particularly affected because “this is a great product,” he further says.
Visit of Asian products
Very concern is that the textile production of Asian countries should be diverted to the European market in one way or another.
“If this tariff wall was installed in China, Cambodia and Vietnam, there would be a greater offer of Asian production clothing for the European markets. Therefore, the impact of 20% of the US markets could be more indirect than the direct consequences of paying the rights of the US markets,” says Turk Vandigem.
Although it does not predict any effects on prices, the Dirk Vandigem predicts a “skill problem”, which may put pressure on European manufacturers.
Knowing the threat, European Commission Chairman Ursula Van Ter Lainin told the Financial Times that he would not tolerate the advent of Chinese products to the European market and that he would not hesitate to follow “security measures”.
For its part, the European clothing and textile federation appeals to the Commission in favor of a conversation on climbing to avoid falling into an evil loss.
Europex said the European textile industry is already weakened by the “energy prices” and the costs of completing the European Union Strategy for Standards and Round Wet Joules in 2022.
Disruption of distribution chains
This new situation can also be redesigned for distribution chains.
Additional rates of Chinese products increased to 145%.
Although Donald Trump has announced a 90 -day gap to the other 75 countries, the Domocles sword is hanging on the head of the world’s studies. If these threats are realized, the customs rights they need to bear are particularly high: 37% for Bangladesh and 46% for Vietnam.
“The major European brands review these customs rights and review their distribution options,” says the Director General of Uradex.
AdvertisementIndia and Turkey may be the first classified. If used, additional fees will rise to 26% and 10%, respectively. Therefore, some apparel companies may be tempted to move their production to these countries.
