European textile and clothing imports accelerate
While remaining stable in 2024, at a slightly lower level than in 2019, European clothing and textile imports accelerated by 21% and 16% respectively in the first quarter, on the eve of the Sino-American trade war, according to data from the French Fashion Institute (IFM).
In the three months preceding the announcement of Donald Trump 's tariffs, the EU imported 23.4 billion euros worth of clothing. And at a time when the European textile industry fears that Chinese production will be redirected from the U.S. to Europe, this first quarter already shows a 29% rise in Asian clothing imports.
This rise unsurprisingly concerns the EU's leading supplier, China (29%), but also benefits its challenger Bangladesh (+33%), not forgetting India (+28%), Cambodia (+38%), Vietnam (+22%), Pakistan (+33%), Sri Lanka (+17%), Indonesia (+12%) and Thailand (+12%). Even Myanmar, still boycotted by some contractors since the coup d'état in 2021, is up by 9%.
As if to underline the regional nature of the phenomenon, the EU's third-largest supplier of clothing, Turkey, fell back by 1%. And while Morocco grew by 9%, Tunisia contracted by 4%, while Egypt continued the upward trend of the previous year (+22%). The United Kingdom saw a 2% decline.
In the textile sector, Europe imported 8.7 billion euros worth of materials in three months, including 5.7 billion from Asia (+28%). Here again, all countries in the region benefited to varying degrees, particularly Bangladesh (+42%) and Vietnam (+44%), while Japan (+5%) and South Korea (+10%) also did well. The biggest loser in the Top 20 is the United Kingdom, down 13%, while Morocco is down 9%.
Sharp drop in exports to Asia
The surge in imports has not been accompanied by a reversal of the situation on the export side. After two years of contraction, shipments of clothing and textiles fell by a further 2% and 4% respectively in the first three months of the year, with sharp falls specifically in Asian orders.
Of the 9 billion euros worth of clothing exports, 2.2 billion went to Asia, which reduced its orders by 15%. This decline affected China (-15%), South Korea (-18%), Hong Kong, Taiwan and Singapore, while Japan remained stable. Other notable contractions include the UK (-4%), Canada (-9%), and Australia (-11%). The U.S., on the other hand, accelerated its orders by 6%, following the 2% rise already seen in 2024.
Textile exports followed this trend. Of the 6.4 billion euros worth of materials exported, 1.3 billion went to Asia, a drop of 14%. This decline was mainly driven by China (-19%), India (-13%), Vietnam (-21%), and South Korea (-22%). The United States, Europe's biggest textile customer, increased its orders by 2% to 735 million euros, while Morocco (+9%) and Egypt (+27%) posted strong increases.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Euronews
38 minutes ago
- Euronews
President Trump says he'll set unilateral tariff rates within weeks
US President Donald Trump told reporters on Wednesday that he would send letters to trading partners in the next week or two, outlining unilateral tariff rates. 'We're going to be sending letters out in about a week and a half, two weeks, to countries, telling them what the deal is,' Trump said at the John F. Kennedy Center for the Performing Arts in Washington. 'At a certain point, we're just going to send letters out. And I think you understand that, saying this is the deal, you can take it or leave it,' he added. This would put Trump ahead of his tariff deadline, as the president previously paused so-called 'reciprocal' duties for 90 days until 8 July. The higher rates are set to kick in on the 9th. Trump told reporters at the Kennedy Center that a delay to the deadline is unlikely, although US Treasury Secretary Scott Bessent previously suggested there may be some flexibility. "It is highly likely that those countries - or trading blocs as is the case with the EU - who are negotiating in good faith, we will roll the date forward to continue the good-faith negotiations," Bessent told the House Ways and Means Committee. "If someone is not negotiating, then we will not." The US has thus far only managed to secure a trade framework with the UK, as well as clinching a tariff deal with China. Trump was nonetheless upbeat about negotiations on Wednesday. "We're rocking in terms of deals," he said. "We're dealing with quite a few countries and they all want to make a deal with us." Following talks in London, Trump said on Wednesday that magnets and rare earths would be supplied up front by China and that the US would allow Chinese students into its colleges and universities. The president added that a 55% tariff would be applied to Chinese imports. A White House official, who was not authorised to discuss the terms publicly, said the 55% was not an increase on the previous 30% tariff on China because Trump was including other pre-existing import taxes. Specifically, the president was tallying up his 10% baseline tariff, the 20% fentanyl trafficking levy and a 25% pre-existing tariff on China. In May, the US agreed upon a trade framework with the UK, which allows US goods to be fast-tracked through customs and reduces trade barriers on a number of products. The framework lowers US duties on British steel, aluminum and cars, although there are some knots to work out, meaning the specifics of the deal could arrive later than the 9 July deadline. US Commerce Secretary Howard Lutnick said on Wednesday that a deal with the European Union will likely be among the final trade agreements concluded by the United States. 'I'm optimistic that we can get there with Europe. But Europe will be probably [at] the very, very end,' Lutnick told CNBC. In May, Trump threatened a 50% tariff on EU goods coming to the US, although he later said he would hold off on this threat until 9 July. The president originally placed a 20% so-called 'reciprocal' levy on EU goods, but this duty was lifted during the 90-day pause window. Disney and Universal sued popular artificial intelligence image-generator Midjourney on Wednesday. This is the first time major Hollywood companies have taken legal action against a maker of generative AI technology that could upend the entertainment industry. The copyright lawsuit in a Los Angeles federal court claims Midjourney pirated the libraries of the two Hollywood studios to generate and distribute 'endless unauthorized copies' of their famed characters, such as Darth Vader from the Star Wars franchise and the Minions from 'Despicable Me'. 'Midjourney is the quintessential copyright free-rider and a bottomless pit of plagiarism. Piracy is piracy, and whether an infringing image or video is made with AI or another technology does not make it any less infringing," the companies state in the complaint. The studios also say the San Francisco-based AI company ignored their requests to stop infringing on their copyrighted works and to take technological measures to halt such image generation. Midjourney didn't respond to a request for comment but its CEO David Holz addressed the lawsuit in a weekly conference call with users on Wednesday after someone asked if it would endanger the tiny startup's future. 'I can't really discuss any ongoing legal things because the world isn't cool like that, but I think Midjourney is going to be around for a very long time,' Holz said. "I think everybody wants us to be around.' In a 2022 interview with The Associated Press, Holz described his image-making service as 'kind of like a search engine' pulling in a wide swath of images from across the internet. He presented the process as a form of creative inspiration, rather than plagiarism. 'Can a person look at somebody else's picture and learn from it and make a similar picture?' Holz said. 'Obviously, it's allowed for people and if it wasn't, then it would destroy the whole professional art industry, probably the nonprofessional industry too. To the extent that AIs are learning like people, it's sort of the same thing and if the images come out differently then it seems like it's fine.' The lawsuit against Midjourney comes as a number of other AI companies have sought to make inroads into Hollywood and the video game industry, providing AI tools that can aid filmmakers and game developers generate new videos, synthesise voices and edit footage. A movie industry group, the Motion Picture Association, said in a statement on Wednesday that 'strong copyright protection is the backbone of our industry' and it supports a 'balanced approach to AI that both protects intellectual property and embraces responsible, human-centred innovation'. The Recording Industry Association of America, a music publishing group fighting its own legal battles against firms that make AI-generated music, endorsed the lawsuit as a 'critical stand for human creativity and responsible innovation'. Major AI developers don't typically disclose their data sources but have argued that taking troves of publicly accessible online text, images and other media to train their AI systems is protected by the 'fair use' doctrine of American copyright law. At the same time, many big tech companies are increasingly looking to make licensing deals to pay for the content their AI systems need. The studios' case joins a growing number of lawsuits filed against developers of AI platforms in San Francisco and New York. Meanwhile, the first major copyright trial of the generative AI industry is underway in London, pitting Getty Images against Stability AI, maker of an image-generating tool that competes with Midjourney.
Euronews
an hour ago
- Euronews
US pulls some embassy staff from Middle East as Iran tensions rise
The US has ordered the departure of non-essential embassy staff and their families from the Middle East over heightened security concerns in the region. The decision comes amid an apparent impasse in US-Iran nuclear talks, with US President Donald Trump saying he was "less confident" the pair would reach a deal. The US State Department on Wednesday announced it would be partially evacuating personnel from the US embassy in Baghdad to "keep Americans safe, both home and abroad." The US embassy in Baghdad already operates at limited staffing due to security risks, and the order will not affect a large number of personnel. The department has also authorised the departure of non-essential personnel and family members from its embassies in Bahrain and Kuwait. US Defence Secretary Pete Hegseth authorised the 'voluntary departure of military dependents from locations' across the region, US Central Command said in a statement. The command 'is monitoring the developing tension in the Middle East.' Earlier Wednesday, the UK's maritime agency issued a warning to ships in the region that an escalation of tensions could impact shipping. It advised vessels to be cautious in the Persian Gulf, the Gulf of Oman, and the Strait of Hormuz — waterways that all border Iran. Iraq's state-run Iraqi News Agency said the evacuation of some nonessential employees from the US Embassy in Baghdad was part of 'procedures related to the US diplomatic presence in a number of Middle Eastern countries, not just Iraq,' adding that Iraqi officials 'have not recorded any security indicators that warrant an evacuation.' Tensions have escalated recently amid a deadlock in negotiations between the US and Iran over Tehran's advancing nuclear program. The ongoing Israel-Hamas war — now over 18 months — has heightened concerns of a broader conflict that could draw in the US, Israel, Iran and its regional allies. Speaking at the Kennedy Centre in Washington on Wednesday, Trump said staff were being "moved out, because it could be a dangerous place. We'll see what happens." When asked if there was anything that could be done to reduce tensions in the region, Trump responded that Tehran "can't have a nuclear weapon, firstly." Talks between Washington and Tehran seek to limit Iran's nuclear programme in exchange for relief from the crushing economic sanctions the US has placed on the country. Iran says its nuclear programme is peaceful. The next and sixth round of talks, which had been tentatively scheduled for this weekend in Oman, now looks increasingly likely to be cancelled, according to two officials who spoke to AP on condition of anonymity. In a separate interview with the New York Post's 'Pod Force One' podcast, Trump said he was "getting more and more less confident about' a deal. 'They seem to be delaying, and I think that's a shame. I'm less confident now than I would have been a couple of months ago. Something happened to them," he said in the interview released on Wednesday. Iran's mission to the UN posted on social media that 'threats of overwhelming force won't change the facts." US militarism "only fuels instability," the mission claimed. Iranian Defence Minister General Aziz Nasirzadeh separately told journalists Wednesday that Tehran would be ready to respond to airstrikes. 'If conflict is imposed on us, the opponent's casualties will certainly be more than ours, and in that case, America must leave the region, because all its bases are within our reach,' he said. 'We have access to them, and we will target all of them in the host countries without hesitation.' Amid growing tensions with Tehran, the top US military officer for the Middle East, General Erik Kurilla, was scheduled to testify before the Senate Armed Services Committee on Thursday, but that testimony has now been postponed, according to the committee's website. The Pentagon has not commented on the postponement.
France 24
2 hours ago
- France 24
EU crypto regulation hampered by national flaws
Launched in December, Markets in Crypto-Asset (MiCA) insists on service providers obtaining a licence to operate legally in the European Union. It is issued once specific criteria on anti-money laundering, prevention of terror group financing, IT security and financial soundness have been implemented. Such a framework aims to protect investors and provide credibility to a sector deemed to be poorly regulated. Once obtained, a licence grants access to the entire EU market, which encourages some companies to seek authorisation in the most "accommodating" member state. Crypto experts, speaking to AFP, do not question the integrity of regulatory authorities in, for example, Germany and the Netherlands -- two EU members which account for the majority of the roughly 30 MiCA licences issued so far. Other bloc nations, including Malta, are in the crosshairs, however, according to these same experts, who preferred to remain anonymous. They point to, for example, the Mediterranean island hastily issuing licences before the formal implementation of collective standards. Rapid approvals "From time to time we see arriving on our market, via the (MiCA) passport, products approved by some of our colleagues with, let's say, a rather quick signing off," lamented the president of the financial markets authority in France, Marie-Anne Barbat-Layani, as she addressed the country's Senate in March. Barbat-Layani noted that EU markets regulator ESMA had launched a "peer review" of an unnamed regulator that is potentially too lax. When contacted by AFP, the watchdog declined to comment. The Maltese regulator, MFSA, neither confirmed nor denied that it was involved. An official working under her, Stephane Pontoizeau, added: "There is always the risk of someone trying to find the least demanding entry point into Europe." Crypto platform OKX, which had planned to hire about 100 staff in France making the country its "anchor" in Europe, ultimately opted for Malta. Peer Gemini followed the same strategy, having targeted Ireland before changing its mind, citing the "proactive engagement" of the Maltese authorities. "Malta began welcoming applications several months earlier than other regulators, which meant that we could start the application process earlier, build the teams and infrastructure required to operate under MiCA," noted Gemini's head of Europe, Mark Jennings. Other countries have been slow to grant approvals, with France having only just issued its first MiCA licence -- to French fintech firm Deblock -- amid accusations that its process is long and complex. France, however, sees it as granting companies greater time to prepare their application, with the country implementing a transition period through to June 2026. Pontoizeau insisted the French financial regulator is "determined not to add national requirements to European rules". According to lawyer Anne Marechal, former legal director at the regulator, there have been "cut-price approvals". She told AFP that "believing one can save a few weeks and a little money" puts companies' credibility at risk with investors. Economic sovereignty Obtaining the necessary certification can also require considerable outlay, whether for a MiCA or national licence. Tangi Le Calvez, founder of the crypto investment firm GOin, has invested about one million euros on obtaining a French licence, which inspired MiCA. He believes that many players will not be able to complete all the necessary steps. Already in 2017, EU member Estonia introduced its own mandatory licences for the crypto sector, which resulted in 75 percent of industry participants ceasing operations there, according to the Cointelegraph publication. While it remains to be seen if a similar outcome will occur in the wake of MiCA, Claire Balva, strategy director at Deblock, highlighted the risk of European crypto firms being replaced by rivals from places with more flexible rules, such as the United States and Dubai. Given their financial resources, such non-European companies would have no difficulty complying with EU rules, she insisted. Should "a significant portion of cryptocurrencies held by Europeans" be hosted "on American infrastructure", this also raises "questions of economic sovereignty", added Balva.
