USMCA-compliant goods exempt from US import tariffs on Mexico, Canada
All USMCA-compliant goods, which includes textiles and apparel, will be exempt from the tariff hike imposed on Canada and Mexico for at least a month, according to Washington.
07 March 2025
07 March 2025
All USMCA-compliant goods, which includes textiles and apparel, will be exempt from the tariff hike imposed on Canada and Mexico for at least a month, according to Washington.
Fashion may have a one-month exemption from Trump's 25% Mexico and Canada tariffs but all of this ongoing uncertainty will still hit fashion sales hardest, writes Robert P Antoshak, VP of Global Strategic Sourcing at Grey Matter Concepts.
There are four main challenges the fashion resale market will need to overcome in 2025, however there are also new opportunities for the sector to explore.
US lingerie brand Victoria's Secret & Co (VS&Co) has reported its fourth quarter 2024 operating income and earnings per share (EPS) surpassed expectations, with a 5% increase in total comparable sales.
Global non-profit alliance Cascale has revised its Higg Brand and Retail Module (Higg BRM), which is part of the Higg Index, to correspond with EU sustainability reporting rules and legislation.
Ultra fast-fashion brand Shein has teamed up with Transfar Chemicals to advance the development and practical implementation of new technologies within fabric manufacturing and dyeing techniques.
Foot Locker turned a profit for the fourth quarter (Q4) of 2024 despite a 5.8% dip in sales from its $2.38bn in 2023.
US fashion retailer Abercrombie & Fitch achieved results “beyond its initial expectations” for fiscal 2024 (FY24) with net sales up 16% to $4.95bn and a promising outlook for 2025.
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