Gildan Dodges Trump Tariffs With Homegrown Cotton, Global Manufacturing
Gildan Activewear GIL 6.12%increase; green up pointing triangle is largely dodging the tariff fallout, according to its chief executive, helped by a vertically integrated model that starts with American-grown cotton and ends with production in Bangladesh and Central America.
The Canadian apparel company is using its U.S. spinning mills, flexible cross-border logistics and a longstanding global footprint to keep costs low while competitors scramble. Chief Executive Glenn Chamandy said that Gildan's structure limits tariff exposure and allows for minimal price increases, preserving its competitive edge as a low-cost producer even as trade tensions reshape sourcing origins.
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New York Times
2 minutes ago
- New York Times
China Walks a Line in U.S. Trade Talks, Trying Not to Overplay Its Hand
In its high-stakes trade talks with the United States, China has been trying to strike a balance in how it wields its market clout. It controls the world's supply of rare earth metals and magnets. And it has withheld supplies of the materials — crucial ingredients in everything from cars to fighter jets — as leverage. At the same time, Beijing knows it must not overplay its hand by pushing Washington so hard that the United States feels compelled to make the long-term investments needed to break its dependence on China. This delicate dynamic was underlined in an apparent compromise the countries reached on Tuesday in London. Commerce Secretary Howard Lutnick said China's negotiators had agreed to resume sending rare earths to American companies. The Chinese government did not confirm this. But on Wednesday afternoon, the JL Mag Rare-Earth Company, a leading magnet producer in Ganzhou, China, said in a public disclosure that it had been issued licenses by China's Ministry of Commerce for sales of nonmilitary magnet exports to the United States, Europe and Southeast Asia. China has a long history of using government policy to control markets, periodically flooding countries with very low-priced Chinese supplies. That has driven many of China's overseas rare earth competitors out of business. Want all of The Times? Subscribe.
Politico
21 minutes ago
- Politico
Ottawa's AI guy
Presented by The Canadian Medical Association Send tips | Subscribe here | Email Canada Playbook | Follow Politico Canada Thanks for reading Canada Playbook. In today's edition: → EVAN SOLOMON maps out his plan for Canada's AI future. → Canada's top judge totally wasn't subtweeting the U.S. in his annual presser. → The auditor general dropped her semi-annual headaches on the Liberals. THE FIRST THING MR. AI — Canada's first AI minister, EVAN SOLOMON, has been dodging Hill journalists since he got a Cabinet gig — and he owns it. 'It is significantly harder to have answers than it is to ask questions,' the former journalist told a Canada 2020 crowd in Ottawa Tuesday. 'Even if you use AI, it turns out it's a little trickier.' 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It's not all about planning vacations, writing resumes or meal planning. AI has the ability to shape culture, economies and warfare. — China vs. the West: On Tuesday, DONALD TRUMP's AI czar DAVID SACKS said China is three to six months behind the U.S. in artificial intelligence. In January, the sudden emergence of the China-based DeepSeek AI model R1 led to U.S. stocks dropping significantly — and gave Western governments a new sense of urgency to act. — Competitive spirit: As competition heats up, Canada wants in. Solomon said Canada is a leader in AI research, but has 'become the farm team for bigger places to take our best researchers and commercialize it.' Canada also lacks digital infrastructure, forcing governments and companies to rely on data storage in other countries, binding them to foreign laws — and preventing them from retaining full sovereignty over the data. — It's the economy, stupid: AI is viewed by the Liberal government as a 'key to our economic destiny.' — Problem is: Just 11 percent of Canadian firms are planning to integrate AI into their operations, Solomon said, creating a large barrier for economic growth. — Simply put: Economies that master AI will grow. Those that don't will fall behind, which is 'an existential threat to our future,' Solomon said. 'Canada cannot be left behind. We need to marshal our resources and advance our position in this high-stakes digital arena. So we've got to act now.' — Team player: Solomon has been meeting with AI firms and leaders such as NextAI co-founder AJAY AGRAWAL. 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Canadians are seeing this regression in democracy, and are wondering if that could happen here,' Wagner told reporters. — Hmm, what about?: The CBC's OLIVIA STEFANOVICH was first out of the gate to ask what the elephant in the room was pondering. Was any of that angst tied to U.S. President DONALD TRUMP's attacks on the American judiciary? — Nice try: 'I will not aim at a specific country,' Wagner replied. 'When you see governments attacking the media, attacking the judges, attacking the lawyers and universities, of course, that means that there's a good chance that you are in front of a dictatorship, autocratic government.' — Not here: 'While Canada is not a superpower in [the] traditional sense of the word, it is a democratic superpower. In this country, the rule of law is non-negotiable,' Wagner said. 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Hogan pointed to a lack of security clearance documentation in 21 percent of cases, and a lack of records related to 'which contracted resources performed the work, what work was completed, and whether the people doing the work had the required experience and qualifications.' Headline: Feds awarded ArriveCan firm nearly $100 million in contracts, despite issues — Indigenous Services Canada is frequently missing a six-month target for processing applications for on‑reserve housing, financial aid for post-secondary education, and certain health benefits. Headline: Ottawa failing to meet timelines for First Nations registration: Auditor General — The federal procurement department has revised down a pledge to reduce office space by 50 percent — now on track for only 33 percent. 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Answers to canadaplaybook@ Writing tomorrow's Playbook: NICK TAYLOR-VAISEY and MICKEY DJURIC. Canada Playbook would not happen without: Canada Editor Sue Allan, editor Willa Plank and POLITICO's Grace Maalouf.
New York Times
26 minutes ago
- New York Times
Former F1 team boss Guenther Steiner eying MotoGP team CEO role, confirms investment talks
Former Haas Formula One team boss Guenther Steiner has confirmed he is in discussions to invest in a MotoGP team, which could lead to a new role as a squad CEO in the top category of global motorcycle racing. Steiner was axed as Haas team boss at the end of 2023, eight years after its F1 debut in the 2016 season. Following his exit, he began working extensively as a television pundit in the sport. The Italian-American has also released a second book about his time working in F1 and is the co-owner of a North Carolina-based composites company. Advertisement 'I'm unemployed but very busy,' he told The Athletic in an exclusive interview. Reports in recent weeks have linked Steiner with investment in what is a new area of motorsport for the 60-year-old: the Tech3 team in MotoGP. The squad has raced in top-level motorcycle racing since 2001 — mostly as a customer Yamaha squad, before partnering with Austrian manufacturer KTM in 2019. KTM is currently in the midst of a severe financial crisis, which has left its participation in MotoGP beyond the current bike design rules era that ends in 2026 in doubt. This has led Tech3 to seek outside investment. Current team owner Herve Poncharal recently confirmed talks with Steiner during an interview with the championship's host broadcast at the Aragon motorcycle Grand Prix won by Marc Márquez. Poncharal suggested discussion areas have included a potential full sale of the squad. '(Steiner is) a very straightforward person and I think a very nice person to eventually work with,' Poncharal said, via TNT. 'So, right now I am listening to the proposal. It could be to come as a shareholder, as a partner, but it could also be to buy the whole team.' Steiner confirmed the discussions to The Athletic but also insisted a deal was some way off being struck. 'I've looked into it, I speak with quite a few people,' Steiner said. 'I don't want to deny it. I mean, I would be stupid to deny it, but no, it's not done. But I'm working (on it). I always work on projects my whole life and (find) things to do. So, that is one of them because I find (MotoGP) very interesting. Also, a sport which has got a lot of potential to grow because the sport is fabulous — the racing is pretty cool! 'What these guys are doing is bonkers. And I just saw an opportunity. I know a lot of people there and started to work on it. But if it comes to fruition or not, or when, I don't know.' Steiner said his interest in MotoGP stems from feeling 'the sport is undervalued at the moment', but insisted he believes in its potential with or without F1 commercial rights holder Liberty Media acquiring MotoGP as well. That $4.2billion deal was announced back in April 2024, but was subsequently scrutinised by the European Union's antitrust authority, the European Commission. Advertisement Reuters reported in April that approval for the Liberty takeover of MotoGP promoter Dorna will, however, be forthcoming. Liberty Media acquired F1's commercial rights ahead of the 2017 season and embarked on a series of initiatives aimed at growing its reach. 'I think (MotoGP) has got a lot of potential to grow as a sport — a little bit like F1 did,' Steiner said. 'There is a lot of potential there to attract more fans because it's such a good sport. 'I think the sport will grow anyway, with or without Liberty, to be honest. So, I believe in it with or without Liberty. Obviously, Liberty, what they did with F1 is fantastic. And I think they could help make MotoGP bigger for sure.' A MotoGP move would take Steiner into another area of motorsport after his stints as a mechanic and senior engineer in the World Rally Championship with Mazda, Prodrive and Ford, and as managing director at Jaguar in F1 before becoming technical director in the early days after that team's transformation into the current Red Bull squad in 2005. Most famously, he worked as Haas' first F1 team boss. His position at the American squad gained worldwide fame due to his high-profile participation in the Netflix series 'Drive to Survive' — a key Liberty-approved project aimed at swelling F1's fanbase. It is generally considered to have been a big success for F1. But when asked if his mooted MotoGP move would involve him resuming team principal duties in a new field or if he was keen to be more of a silent partner this time around having been so heavily involved in Haas' formation, Steiner replied: 'I don't yet know my position, but I cannot stay silent. 'You know me, I cannot be silent! I cannot be completely silent, but maybe I wouldn't do the day-to-day work. Maybe I would be more strategic, like a CEO or something like this. But I've got too many things going on in my life to do this as 100 percent. So, I will put a lot of effort in because I like it. I cannot, if I'm invested in something, just take the back seat. Advertisement 'I always have opinions and I think there is also my value — I see a lot of things, I've done a lot of things. I'm very old now, by the way, so don't forget that. When you get older, you've got experience and need to try to use it. 'I've never worked in MotoGP. My experience is watching it and speaking with people. Therefore, I say again there's people which know more about the day-to-day MotoGP than me. And I respect that.'
