Seismic shakeups to global trade took shape Wednesday as the Trump administration’s reciprocal tariffs were slated to take effect—but didn’t.
...
“We are relieved that President Trump is pausing the onerous reciprocal tariffs on most of our trading partners. Ninety days offers an opportunity to hold serious discussions about trade barriers and craft substantive market opening agreements,” Julia Hughes, president of the U.S. Fashion Industry Association (USFIA), told Sourcing Journal. “Our motto at USFIA is ‘Fashion Made Possible by Global Trade’ and we know that fashion benefits from the opportunity to source across the globe.”
While the tempering of tensions with much of the trading world represents a step in the right direction, Hughes said she remains “concerned about the escalating trade war with China.”
“Ultimately no one wins in a trade war so we hope that today’s dueling tariff increases will lead to a serious negotiation to resolve the long-standing trade issues between the U.S. and China,” she added.