US’s widening trade deficit with China is a
major cause of the country’s economic woes. US government has
started imposing protectionist measures on imports from major
trading partners like China and Canada.
new regulation becomes mandatory in 2020. The market for medical
textiles has the potential to be one of the fastest growing
categories within the technical textile sector between 2018 and
2025. But growth is threatened by new, stringent EU regulations
for medical devices - according to a new report from the global
business information company ‘Textiles Intelligence’. Medical
textiles: markets, applications, developments and regulations.
China will step up efforts to boost
investment in the textile industry in Belt and Road (B&R)
countries, according to the China National Textile and Apparel
Council (CNTAC). In recent years, the CNTAC has helped Chinese
textile and apparel firms understand foreign investment
environment and contributed to the signing of many overseas
investment projects by establishing international platforms for
multilateral exchanges and holding investment promotion
meetings, said Gao Yong, the council's Party secretary.
Starting from September 2019, Germany started
a Grüner Knopt (green button in its German meaning)
certification in which it would support all textile items that
follow certain social and environmental criteria. The federal
ministry for economic cooperation and development (BMZ) will be
in charge of this certification and will evaluate companies and
Malaysia is mulling over a plan to establish
the country’s first textile manufacturing hub as part of an
effort to revive the industry. The proposal is being drafted by
a team from the international trade and industry ministry, the
Malaysian Investment Development Authority (MIDA) and the
newly-launched Federation of Malaysian Fashion, Textiles, and
Apparels (FMFTA). The government is re-industrializing
Malaysia’s textile sector and it believes domestic investors are
fully capable to develop this hub, international trade and
industry minister Datuk Darell Leiking said at the launch of
FMFTA in Kuala Lumpur recently.
Turkish trade minister Ruhsar Pekcan has said her country and
the United States discussed steps to take bilateral trade to US$
100 billion from US$ 20.6 billion in 2018. She said this during
the recent four-day visit of US secretary of commerce Wilbur
Ross to Turkey. Turkey conveyed its expectations for the removal
of certain practices impeding bilateral trade.
Fashion and textile products from the UK will
be facing a 25% tariff in addition to the normal duties to the
US market as part of the ongoing dispute between the US and the
EU over subsidies granted to both Boeing and Airbus as the US
has threatened to introduce the tariffs by October this year.