There is breathing in the European textile industry. At the twist of 180º, US President Donald Trump announced Wednesday a 90 -day pause In Mutual fees except China. If it executes its threat, EU products entering the United States will be subject to an additional fee of 20%. We take the pulse to the textile industry In a moment of uncertainty.
“Exports to the United States and export to European clothing refers to 7.5 billion euros per year. So if Mr. Trump has 20%of his fees, ie, ie, 1.5 billion in customs rights“The general director of the European candy and textile Federation Euratex illustrates Dirk Vandigem.
Italy, France and PortugalSpearheads Textile industry in EuropeThey are probably the most affected European countries in this field. Hot tingler will be better off, although some customers are willing to pay extra cost, in order to be more limited.
The surplus of Asian products is high to Europe
More worried, from the US exported Asian countries, from one moment to another, Changing to the European Market.
“If this payment wall is installed China, Cambodia and VietnamThe high offer of clothing made in Asia will be pushed to European markets. So the impact of 20% of the Customs’ rights in the US markets may be even greater than the direct consequences, ”says Dirk Vandigem.
Although prices are not expected, it sees a problem that can press European manufacturers. The one who knows this threat is the head of the European Commission, Ursula van der laneIn an interview with ‘Financial Times’ he announced that he would not tolerate The arrival of Chinese products to the European market I will not hesitate to take “safety measures” if necessary.
For its part, the European candy and the textile federation asks to support the Commission Conversation against climbingTo avoid falling into a evil circle that everyone loses. Consider that the European textile industry is already weakened by the “Energy Prices” and the costs of compliance with the EU strategy Standard and circular textileAccepted in 2022, according to the Euratex.
Problems in delivery chains
This new situation may also be redesigned Distribution chains. Additional US charges about Chinese products They have increased to 145%.
Although Donald Trump has announced a 90 -day suspension for more 75 countries, the Domocles sword is hanging on the head of the world’s workshops. If these threats are fulfilled, the customs rights they have to face are particularly high: 37% for Banglades and 46% for Vietnam.
“Large European brands read these customs rights and review their distribution options,” says Euratex’s general director. India too may win Turkey. If used, additional fees are 26% and 10%, respectively. Some apparel companies may be tempted to move their products there.
