Tariffs: Europe's textile sector holds its breath
The escalation of the trade war between the United States and China could lead to an influx of Chinese products onto the European market.
READ MORE : http://www.euronews.com/2025/04/14/tariffs-europes-textile-sector-holds-its-breath
Subscribe to our channel. Euronews is available on Dailymotion in 12 languages
The escalation of the trade war between the United States and China could lead to an influx of Chinese products onto the European market.
READ MORE : http://www.euronews.com/2025/04/14/tariffs-europes-textile-sector-holds-its-breath
Subscribe to our channel. Euronews is available on Dailymotion in 12 languages
Category
🗞
NewsTranscript
00:00The textile industry is holding its breath.
00:09In a U-turn, the US President announced on Wednesday a 90-day pause in reciprocal tariffs except for China.
00:17If he were to carry out his threat, products from the EU entering the United States would be subject to a 20% surtax.
00:25We took the pulse of the textile sector at a time of uncertainty.
00:29European exports of textiles and apparel is around 7.5 billion euro per year.
00:36So if Mr Trump maintains his 20% tariff addition, that means 1.5 billion euro of tariffs.
00:46So that's the impact if things stay as they are.
00:50Across that 7.5 billion, it's mainly high-end apparel products.
00:57So fashion products coming from Italy, from France.
01:00So these are the countries that would have the biggest impact.
01:04More worryingly, Asian textile products not exported to the United States could end up being redirected to the European market.
01:12If that wall is being established from China, from Cambodia, from Vietnam, there will be a bigger supply, an even bigger supply of apparel products made in Asia pushed on the European markets.
01:27And so that indirect impact may be even bigger than the direct consequence of paying 20% tariffs on the US markets.
01:34EU Commission President Ursula von der Leyen said she wouldn't tolerate an influx of Chinese products onto the European market and would take safeguard measures if necessary.
01:48EU Commission President Ursula von der Leyen