Latest news with #FernandezyRocheIndustriasSombrerasEspañolas
Express Tribune
27-05-2025
- Business
- Express Tribune
Spanish hatmaker says Trump tariffs threaten Orthodox Jewish tradition
Listen to article A historic Spanish hatmaker says its 40-year tradition of supplying black felt hats to Orthodox Jewish communities in the United States is under threat due to new US tariffs imposed by President Donald Trump. The Fernandez y Roche Industrias Sombreras Españolas factory, based in Seville, began facing a 10% import tariff in May, raising concerns that its long-standing business relationship with Jewish communities in New York and New Jersey may not survive the current trade tensions. 'This will be dramatic for us,' said Abraham Mazuecos, managing director of the 140-year-old factory. 'Our margins are tight, so we expect a decline in demand.' The company exports around 30,000 hand-crafted hats annually to Orthodox Jewish customers in the US, accounting for about half of its total exports to that community. The other half goes to Israel. The hats are worn daily by Orthodox Jewish men from the age of 13 and typically replaced every three years at prices ranging between $120 and $380. Mazuecos said US clients may begin turning to domestic manufacturers, especially if tariffs are raised further. Trump has suggested an additional 50% tariff on EU goods, although negotiations with the European Union have been extended until 9 July. 'There are hat factories in the United States, but they are highly specialised in cowboy hats,' Mazuecos explained. 'It's a completely different product.' Currently, Spanish-made hats account for around 20% of all black felt hats purchased annually by Orthodox Jews in the US, with the rest mainly sourced from Italy and China. Mazuecos warned that the factory cannot afford to lower prices to absorb the increased costs, putting decades of trusted supply at risk. The Trump administration has long criticised the EU for what it claims are unfair trade practices, using tariffs as leverage in ongoing negotiations. If talks fail and higher tariffs are implemented, the Fernandez y Roche factory may be forced to cut production – a move that would disrupt one of the more unusual cross-cultural business ties between Europe and the US.
Hindustan Times
27-05-2025
- Business
- Hindustan Times
Trump's trade war imperils Spanish hatmaker's business with US Orthodox Jews
SEVILLE, Spain, - A Spanish hatmaker warned that a 40-year tradition of supplying felt hats to Orthodox Jews in the U.S. risked becoming a casualty in President Donald Trump's trade war. The community, which is mainly based in New York and New Jersey, buys around 30,000 hats annually from the 140-year-old Fernandez y Roche Industrias Sombreras Españolas factory in Seville in southern Spain, and in May began paying a 10% tariff on imports for the first time, the factory's Managing Director Abraham Mazuecos told Reuters. Trump, who has repeatedly criticised the EU for what he says are unfair trade imbalances with the U.S., has also recommended a further 50% tariff for EU goods, but on Sunday agreed to extend the deadline for talks between Washington and the 27-nation bloc for a deal until July 9. Higher tariffs would be "dramatic" for the hand-made hat factory, since it can't afford to reduce prices for its long-term clients in the U.S. to offset the new fee, Mazuecos said. "Our margins are tight, so we expect a decline in demand," Mazuecos told Reuters. The factory supplies 60% of the 100,000 hats bought each year by Orthodox Jews, with half going to the U.S. and the other half to Israel. Spanish hats account for a fifth of all black felt hats purchased by the Orthodox Jewish community in the U.S., which also imports from Italy and China, Mazuecos said. The black felt hat, worn daily by Orthodox Jewish men from the age of 13, is typically replaced every three years at a cost of between $120 and $380, he added. Mazuecos said that U.S. customers could gradually buy fewer hats from abroad and seek U.S. manufacturers that can produce them at lower prices. "There are hat factories in the United States, but they are highly specialised in cowboy hats," he said.
