Latest news with #EU-manufactured
The Star
27-05-2025
- Business
- The Star
Interview: UK trade expert warns of fallout from U.S.-EU tariff dispute
LONDON, May 27 (Xinhua) -- A full-scale trade dispute between the United States and the European Union (EU) would pose serious risks to the global economy and is likely to affect the United Kingdom (UK) as well, a senior British trade expert has warned. In an interview with Xinhua, William Bain, head of trade policy at the British Chambers of Commerce, said Britain's existing trade arrangements would provide only limited protection from the consequences of rising tensions between Washington and Brussels. "An escalation of the trade dispute between the U.S. and EU would damage the global economy," Bain said. "The effects will be felt in the UK too, notwithstanding our own agreement with the U.S. on tariff reductions in key sectors." Bain's warning comes amid heightened concern in Europe following U.S. President Donald Trump's threat to impose 50-percent tariffs on EU imports starting June 1 -- a major escalation in already strained transatlantic trade relations. Following a call with European Commission President Ursula von der Leyen, Trump agreed to postpone the tariff hike until July 9 to allow for further negotiations. Despite the temporary reprieve, Bain cautioned that the underlying disagreements remain unresolved. Many British firms that distribute EU-manufactured goods to the United States or rely on EU components in their supply chains now face mounting uncertainty. In Northern Ireland, where businesses operate under post-Brexit rules aligned with certain EU standards, the impact could be more direct, Bain said. He added that the effectiveness of contingency measures such as the Duty Reimbursement Scheme remains unclear. Bain attributed the deadlock in talks to U.S. efforts to narrow its trade deficit with the EU, and its concerns over digital services taxes and pharmaceutical pricing in several EU member states. The EU may look to respond by offering tariff concessions on industrial goods and increasing imports of U.S. products such as fuels and automobiles, he noted. However, he said the bloc is unlikely to change its regulatory stance -- leaving sectors like automotive and pharmaceuticals particularly exposed. European leaders, including Italian Prime Minister Giorgia Meloni and French President Emmanuel Macron, have called for de-escalation. Von der Leyen's engagement helped delay the tariffs, and both sides have pledged to intensify dialogue ahead of the new deadline. Although not directly involved in the dispute, Britain faces its own trade headwinds. A recent report by the Centre for European Reform found that UK trade grew just 0.3 percent annually between 2019 and 2024, with real exports of goods falling 20 percent over the same period. While London has signed trade deals with the United States, India, and the EU, analysts have downplayed their impact. One recent analysis described the U.S. deal as merely a tool to "limit the damage" from broader trade frictions. "Despite the UK's bilateral agreements, the reverberations of a broader U.S.-EU trade conflict will still have negative economic consequences here," Bain said. "Hopefully, a deal can be reached to prevent further tariff walls." With the July 9 deadline looming, pressure is building on both sides of the Atlantic to reach an agreement and avert a confrontation that could ripple far beyond Europe and North America.
Yahoo
27-02-2025
- Business
- Yahoo
Skechers Concept Store Opens on Milan's Corso Buenos Aires
The Company brings its signature comfort technologies to one of Europe's longest and most renowned shopping streets MILAN, February 27, 2025--(BUSINESS WIRE)--Skechers has opened its doors on one of Milan's most famed shopping boulevards: Corso Buenos Aires. The Company's new concept store brings its comfort footwear, apparel and accessories including its popular Skechers Hands Free Slip-ins® designs and innovative Skechers Performance collection to Europe's renowned High Street, an epicenter of fashion. "As The Comfort Technology Company, Skechers has been a strategic retail player—establishing brick-and-mortar locations across a network of cities where we can interact with consumers around the world and convert millions into enthusiasts," said Michael Greenberg, president of Skechers. "Italy has played a key role in our growth across Europe. We look forward to further building our business in this important market with this high-profile destination, one whose fashion trends, signature collections and innovative hands-free designs can connect with the tourists and locals who appreciate Milan's reputation for style." "Milan has long been known as one of Italy's top destinations for tourism, fashion and culture—and our new store places us among the world's most prominent brands in this vibrant city—right in the heart of Corso Buenos Aires, one of Europe's longest shopping streets," added Sergio Esposito, country manager of Skechers Italia. "Our close proximity to Milan Centrale and Lima metro stations will make our retail location a heavily-trafficked conduit for the tens of thousands who come to shop daily." Located on a boulevard that receives Milan's second-highest footfall at 6,900 shoppers per hour, the 294-square-meter store at Corso Buenos Aires 42/9 is a re-imagination of mid-century design. Illuminated by LED lighting constructed with renewable EU-manufactured biopolymer materials, the modern space showcases the brand's popular lifestyle footwear collections and features a dedicated Skechers Performance area, as well as apparel and accessory sections and products for every age and activity including fashion, sport, casual, work and children's styles. Skechers' extensive offering is enhanced with the Company's comfort innovations and game-changing performance product for every skill level—including its Skechers Hands Free Slip-ins® Technology, Massage Fit® Technology, Skechers Arch Fit® Technology, Skechers Max Cushioning® Technology, Skechers Hyper Burst® Technology, Skechers Performance FitKnit® Technology, Skechers Air-Cooled Memory Foam®, Skechers Relaxed Fit® Technology and Skechers Stretch Fit® Technology. Supported by a team of ambassadors including football legend Fabio Cannavaro and celebrity chef Benedetta Parodi, the Company's product is available at more than 40 Skechers retail destinations in Italy including three additional locales in Milan. Consumers can also shop at approximately 5,300 Skechers stores worldwide, and leading retailers in the region. About Skechers USA Italia S.r.l. and Skechers U.S.A., Inc. Skechers USA Italia S.r.l. is a subsidiary of Skechers U.S.A., Inc. (NYSE:SKX), The Comfort Technology Company® based in Southern California. Skechers designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company's collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit and follow us on Facebook, Instagram and TikTok. This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers' future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as "believe," "anticipate," "expect," "estimate," "intend," "plan," "project," "will," "could," "may," "might," or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers' annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance. View source version on Contacts Media Contact: Jennifer ClaySKECHERS U.S.A., (310) 937-1326 Sign in to access your portfolio
