Textile Industry
India-US interim trade deal cuts tariffs to 18%
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An interim trade agreement between India and the US has been finalized, reducing tariffs on Indian exports from 50% to 18%. This move will benefit Indian exporters, particularly in textiles and diamonds. However, India has not confirmed US claims regarding stopping Russian oil purchases.
The insolvent shirt manufacturer Eterna will cease operations in Passau after no buyer was found. Around 400 employees are affected, while the brand could continue separately. The insolvency was filed in December.
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Argentina's textile industry is facing a severe crisis, driven by high costs, declining demand, and factory closures, intensified by Economy Minister Luis Caputo's criticism of local clothing prices. Sector entrepreneurs reject official statements and call for reforms to boost competitiveness without job losses. The Italian SME model in specialized production is suggested as an alternative to perpetual protection.