Economy
EU footwear industry may gain from Trump’s tariffs
Countries such as Portugal and Spain could benefit from Trump’s latest tariff policies, as the EU is the least penalised region, with tariffs of only 15%, which do not accumulate with historical tariffs
Spain Retail: the fashion sector is now under pressure
Unlike our previous forecast, the Spanish fashion sector is currently under pressure, with its turnover down by 2.56% year-on-year in the first half of the year. The footwear sector, in particular, is showing worrying signs, with low prices and cautious consumer behaviour. This has left retailers with high inventory levels and high hopes for summer discounts. However, only time will tell if the slowdown of the Spanish economy due to mounting global geopolitical and financial uncertainty will affect their prospects
Latest developments in Trump’s tariffs policies
Now that Trump’s self-imposed deadline for the 1st of August has been reached, we present the latest update on tariff policies, highlighting the main concerns for the fashion industry
Latin American Footwear Forum 2025: regional collaboration is a strategic necessity
Amid a challenging trade environment, the Latin American Footwear Forum is set to return from the 13th to the 15th of August with a more focused and action-driven agenda. We spoke to Horacio Moschetto, head of the Argentine Chamber of the Footwear Industry (CIC), to gain further insight into the event
France Retail: something doesn’t add up in the footwear market
There is something amiss in the footwear retail sector in France. Since April, footwear sales have increased and prices have remained stable, supported by one of the lowest inflation rates in the Eurozone. Nevertheless, concerns have been raised about the sluggish state of the economy, with both consumer and retail confidence not only negative, but also on a downward trend. This suggests that footwear imports will most likely continue to decrease, as they did in April. Only time will tell what will happen next
US-EU framework tariff deal reached just ahead of deadline
The US will impose a 15% tariff on most EU imports, half the rate initially threatened. The deal includes 600 billion USD of EU investment in the US and 750 billion USD of EU purchases of American energy and defence products
Trump announces tariff deal with Japan
The US President announced a "massive" trade agreement with Japan, setting reciprocal tariffs of 15% on Japanese exports to the US. The deal includes auto tariffs at the same level
US and Indonesia reach tariff deal
Both the US President Donald Trump and the Indonesian President Prabowo Subianto said that the tariffs faced by the Southeast Asian country would be reduced from 32% to 19%
Trump intensifies trade tensions with the EU and Mexico
Tensions are rising over trade after US President Donald Trump sent letters to the European Union (EU) and Mexico threatening to impose a 30% tariff on their goods from the 1st of August
Trump’s 50% tariff threat to Brazil raises alarm in footwear industry
Donald Trump has threatened Brazil with a 50% tariff starting on the 1st of August over charges against its former right-wing president Jair Bolsonaro. The Brazilian footwear industry has already voiced its concern
US President postpones reciprocal tariffs but announces new country-specific rates
Donald Trump has officially delayed imposing higher tariffs on US imports until the 1st of August, and has sent letters to 14 countries detailing the levies they face, including Japan and Korea
The US and Vietnam reach an agreement on tariffs
US President Donald Trump announced that the US would impose lower-than-expected tariffs of 20% on many Vietnamese exports, and 40% on transshipments through Vietnam from third countries
Italian footwear, leather goods and tannery machinery sector ends 2024 in the red
Preliminary figures from Assomac indicate that the sector recorded a year-on-year drop in turnover of 12% in 2024, with an estimated closure of around 575 million euros
US core retail sales hold their own
Continued growth in core retail sales in May was shown by data released by the US Census Bureau, despite a downturn in overall sales amid fluctuating tariffs, said the National Retail Federation
US and China strike preliminary trade deal
The United States and China have reached a framework agreement on a trade deal that eases global trade tensions. However, the final terms have yet to be formally agreed upon by both governments-
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