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Trump issues more letters to countries in push for tariff deals

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July 9, 2025

US President Donald Trump released a fresh set of letters to trading partners Wednesday, setting out tariff rates for seven more countries as Washington pushes to bring about a flurry of trade deals.

AFP

The letters, addressed to leaders of the Philippines, Sri Lanka, Brunei, Algeria, Libya, Iraq and Moldova, spelled out duties ranging from 20 percent to 30 percent that would take effect on August 1.

Similar to Trump’s first batch of documents published Monday, the levels were not too far from those originally threatened in April, although some partners received notably lower rates this time.

Sri Lanka’s updated tariff was 30 percent, down from 44 percent announced in April, while the figure for Iraq was 30 percent, down from 39 percent.

The Philippines, however, saw a 20 percent levy, up from 17 percent announced previously.

While the president in April imposed a 10 percent levy on almost all trading partners, he unveiled — and then withheld — higher rates for dozens of economies.

The deadline for those steeper levels to take effect was meant to be Wednesday, before Trump postponed it further to August 1.

Instead, countries who face the threats of elevated duties began receiving letters spelling out US tariff rates on their products.

Trump said Wednesday that he decided on the levies based on “common sense” and trade deficits.

He added at an event that he would release more letters later in the day — including for Brazil, which does not currently face a tariff hike come August.

Trump’s latest messages were near-identical to those published earlier in the week, and justified his tariffs as a response to trade ties that he says are “far from Reciprocal.”

They urged countries to manufacture products in the United States to avoid duties, while threatening further escalation if leaders retaliated.

For now, over 20 countries have received Trump’s letters including key US allies Japan and South Korea, as well as Indonesia, Bangladesh and Thailand.

Analysts have noted that Asian countries have been a key target so far.

But all eyes are on the state of negotiations with major partners who have yet to receive such letters, including the European Union.

For now, the Trump administration is under pressure to unveil more trade pacts. So far, Washington has only reached agreements with Britain and Vietnam, alongside a deal to temporarily lower tit-for-tat levies with China.

Trump on Tuesday said that his government was “probably two days off” from sending the EU a letter with an updated tariff rate for the bloc.

“They’re very tough, but now they’re being very nice to us,” he added at a cabinet meeting.

An EU spokesman said Wednesday that the bloc wants to strike a deal with the United States “in the coming days,” and has shown readiness to reach an agreement in principle.

EU diplomats say the European Commission, in charge of trade policy for the 27-country bloc, could continue talks until August 1.

The EU expects Trump to keep a 10 percent baseline tariff on its goods, with exemptions for critical sectors such as airplanes, spirits and cosmetics, diplomats told AFP this week.

Legal challenges to Trump’s sweeping tariffs are continuing to work their way through the US court system.

Apart from tariffs targeting goods from different countries, Trump has also rolled out sector-specific duties on steel, aluminum and autos since returning to the White House in January.

On Tuesday, Trump said levies were incoming on copper and pharmaceuticals.

The planned rate for copper is 50 percent, he added, while pharmaceutical products face a levy as high as 200 percent — but manufacturers would be given time to relocate operations.

Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.



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Cosmetics giant Unilever finalises business demerger

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December 5, 2025

The demerger of Unilever‘s ice cream division, to be named ‘The Magnum Ice Cream Company,’ which had been delayed in recent months by the US government shutdown, will finally go ahead on Saturday, the British group announced.

Reuters

Unilever said in a statement on Friday that the admission of the new entity’s shares to listing and trading in Amsterdam, London, and New York, as well as the commencement of trading… is expected to take place on Monday, December 8.

The longest federal government shutdown in US history, from October 1 to November 12, fully or partially affected many parts of the federal government, including the securities regulator, after weeks without an agreement between Donald Trump‘s Republicans and the Democratic opposition.

Unilever, which had previously aimed to complete the demerger by mid-November, warned in October that the US securities regulator (SEC) was “not in a position to declare effective” the registration of the new company’s shares. However, the group said it was “determined to implement in 2025” the separation of a division that also includes the Ben & Jerry’s and Cornetto brands, and which will have its primary listing in Amsterdam.

“The registration statement” for the shares in the US “became effective on Thursday, December 4,” Unilever said in its statement. Known for Dove soaps, Axe deodorants and Knorr soups, the group reported a slight decline in third-quarter sales at the end of October, but beat market expectations.

Under pressure from investors, including the activist fund Trian of US billionaire Nelson Peltz, to improve performance, the group last year unveiled a strategic plan to focus on 30 power brands. It then announced the demerger of its ice cream division and, to boost margins, launched a cost-saving plan involving 7,500 job cuts, nearly 6% of the workforce. Unilever’s shares on the London Stock Exchange were steady on Friday shortly after the market opened, at 4,429 pence.
 

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Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.



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Burberry elevates two SVPs to supply chain and customer exec roles

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December 5, 2025

Burberry has named a new chief operating and supply chain officer as well as a new chief customer officer. They’re both key roles at the recovering luxury giant and both are being promoted from within.

Burberry – Spring-Summer2026 – Womenswear – Royaume-Uni – Londres – ©Launchmetrics/spotlight

Matteo Calonaci becomes chief operating and supply chain officer, moving from his role as senior vice-president of strategy and transformation at the firm. 

In his new role, he’ll be oversee supply chain and planning, strategy and transformation, and data and analytics. He succeeds Klaus Bierbrauer, who’s currently Burberry supply chain and industrial officer. Bierbrauer will be leaving the company following its winter show and a transition period.

Matteo Calonaci - Burberry
Matteo Calonaci – Burberry

Meanwhile, Johnattan Leon steps up as chief customer officer. He’s currently currently Burberry’s senior vice-president of commercial and chief of staff. In his new role he’ll be leading Burberry’s customer, client engagement, customer service and retail excellence teams, while also overseeing its digital, outlet and commercial operations.

Both Calonaci and Leon will join the executive committee, reporting to Company CEO Joshua Schulman.

JohnattanLeon - Burberry
JohnattanLeon – Burberry

Schulman said of the two execs that the appointments “reflect the exceptional talent and leadership we have at Burberry. Both Matteo and Johnattan have been instrumental in strengthening our focus on executional excellence and elevating our customer experience. Their deep understanding of our business, our people, and our customers gives me full confidence that their leadership will help drive [our strategy] Burberry Forward”.

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Puneet Gupta steps into fine jewellery

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December 5, 2025

Traditional and occasion wear designer Puneet Gupta has stepped into the world of fine jewellery with the launch of ‘Deco Luméaura,’ a collection designed to blend heritage and contemporary aesthetics while taking inspiration from the dramatic landscapes of Ladakh.

Hints of Ladakh’s heritage can be seen in this sculptural evening bag – Puneet Gupta

 
“For me, Deco Luméaura is an exploration of transformation- of material, of story, of self,” said Puneet Gupta in a press release. “True luxury isn’t perfect; it is intentional. Every piece is crafted to be lived with and passed on.”

The jewellery collection features cocktail rings, bangles, chokers, necklaces, and statement evening bags made in recycled brass and finished with 24 carat gold. The stones used have been kept natural to highlight their imperfect and unique forms and each piece in the collection has been hammered, polished, and engraved by hand.

An eclectic mix of jewels from the collection
An eclectic mix of jewels from the collection – Puneet Gupta

 
Designed to function as wearable art pieces, the colourful jewellery echoes the geometry of Art Deco while incorporating distinctly South Asian imagery such as camels, butterflies, and tassels. Gupta divides his time between his stores in Hyderabad and Delhi and aims to bring Indian artistry to a global audience while crafting a dialogue between designer and artisan.

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