Latest news with #FreeTradeAgreement
Fibre2Fashion
3 hours ago
- Business
- Fibre2Fashion
Textiles face complex origin verification, FTA compliance: ePost
Amid heightened scrutiny of the US de minimis rule, escalating tariff tensions, and stricter customs enforcement in key global markets, a new analysis from ePost Global highlights a troubling trend: the most valuable product categories are also the most exposed to regulatory complexity. Leading the list is apparel and textiles, which account for 39.2 per cent of shipment value and are subject to intricate origin verification processes and stringent Free Trade Agreement (FTA) compliance requirements. Cross-border e-commerce has hit a regulatory wall that's driving up costs and catching retailers unprepared. The study of 15.6 million international shipments worth $421 million has revealed that nearly three-quarters (73 per cent) of product categories now fall into tariff-sensitive classifications, with customs authorities around the world significantly ramping up enforcement. A new ePost Global report warns that cross-border e-commerce is facing rising regulatory challenges, with apparel and textiles (39.2 per cent of shipment value) hit hardest by complex origin checks and Free Trade Agreement (FTA) compliance requirements. Of 15.6 million shipments analyzed, 73 per cent fall under tariff-sensitive categories. Findings from ePost's 2025 Shipping Optimisation Analysis Report expose a hidden crisis brewing in global retail supply chains, with 42 per cent of shipment value now tied to high-complexity customs categories that face intense scrutiny—such as electronics, luxury goods, and food items. "Retailers are sailing into a perfect storm of regulatory changes," said Kelly Martinez, founder and co-president of ePost Global . "The cross-border boom that fuelled e-commerce growth is now confronting a wall of protectionist policies, with customs authorities converting what used to be routine shipments into complex compliance challenges." "The rules of global commerce are being rewritten in real time," said Martinez. "Brands that thrived in the era of simplified cross-border shipping now find themselves facing a maze of regulatory hurdles that can demolish profit margins overnight if they're unprepared." The data reveals key strategic advantages for retailers who adapt to the evolving regulatory landscape. Notably, 97 per cent of all shipments still qualify under the EU's €150 (~$170.31) de minimis threshold, presenting a significant opportunity for cost-effective cross-border sales. Additionally, with over 52 per cent of product categories averaging under $20 in value, there is untapped potential for consolidation strategies. By adopting value-based shipping models, retailers can better navigate tariff challenges—an increasingly important tactic as recent policy shifts close loopholes that once allowed low-value packages to enter duty-free. ePost's analysis further shows that retailers who systematically address four critical documentation elements—product descriptions, HS codes, declared values, and country of origin—can gain significant advantages in speed-to-customer and cost efficiency. "What used to be back-office paperwork decisions have become make-or-break factors for international retail strategy," Martinez warned. "A single misclassified shipment or incomplete customs form can trigger cascading delays, fines, and customer disappointment that damages brand reputation." Furthermore, Alison Layfield, director of product development at ePost Global , cautions that "defaulting on HS codes is no longer safe – your product could end up with a 25 per cent tariff. Customs is now requiring accurate classifications, which equates to clear descriptions, correct HS codes, declared value and actual country of origin based on the manufacturer." Fibre2Fashion News Desk (RR)
Washington Post
19 hours ago
- Business
- Washington Post
New Zealand hails 'breakthrough' in trade talks with India, but no timeline for deal
NEW DELHI — New Zealand's deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal. Winston Peters, who is on a two-day visit to India, said that the negotiations were 'going with real meaning now,' calling them 'a breakthrough in our economic relationship.'
The Independent
19 hours ago
- Business
- The Independent
New Zealand hails 'breakthrough' in trade talks with India, but no timeline for deal
New Zealand's deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal. Winston Peters, who is on a two-day visit to India, said that the negotiations were 'going with real meaning now," calling them 'a breakthrough in our economic relationship.' India and New Zealand began negotiations in March for a trade pact, and had aimed to sign a deal in 60 days. The deal will significantly bolster economic ties between the two countries, but it has faced delays because of differences over tariffs on dairy products. Bilateral trade between India and New Zealand stood at $1.7 billion in the 2023-24 financial year. Talks between India and New Zealand were taking place amid global trade tensions, after U.S. President Donald Trump's decision to impose now-paused reciprocal tariffs on imported goods from several countries, including India. Earlier this month, India and the United Kingdom clinched a trade deal. India is also engaged in trade talks with Washington. Peters, who met with India's Group of 20 emissary, Amitabh Kant, in New Delhi, said that India was New Zealand's 12th-largest partner in trade and 'we are determined that we're going to work to change that.' "Our strengths, from food and beverage products to agriculture, forestry, horticulture, education and tourism are world class. And our innovation in areas like outer space and renewable energy will find a welcoming partner in India," he said. Peters said that the relationship between the two countries extended to defense and security, calling it a 'priority for New Zealand in the Indo-Pacific." "During a time of great uncertainty, instability and disorder, we have taken steps to work more closely on matters of defense and security with India," he said.
Associated Press
19 hours ago
- Business
- Associated Press
New Zealand hails 'breakthrough' in trade talks with India, but no timeline for deal
NEW DELHI (AP) — New Zealand's deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal. Winston Peters, who is on a two-day visit to India, said that the negotiations were 'going with real meaning now,' calling them 'a breakthrough in our economic relationship.' India and New Zealand began negotiations in March for a trade pact, and had aimed to sign a deal in 60 days. The deal will significantly bolster economic ties between the two countries, but it has faced delays because of differences over tariffs on dairy products. Bilateral trade between India and New Zealand stood at $1.7 billion in the 2023-24 financial year. Talks between India and New Zealand were taking place amid global trade tensions, after U.S. President Donald Trump's decision to impose now-paused reciprocal tariffs on imported goods from several countries, including India. Earlier this month, India and the United Kingdom clinched a trade deal. India is also engaged in trade talks with Washington. Peters, who met with India's Group of 20 emissary, Amitabh Kant, in New Delhi, said that India was New Zealand's 12th-largest partner in trade and 'we are determined that we're going to work to change that.' 'Our strengths, from food and beverage products to agriculture, forestry, horticulture, education and tourism are world class. And our innovation in areas like outer space and renewable energy will find a welcoming partner in India,' he said. Peters said that the relationship between the two countries extended to defense and security, calling it a 'priority for New Zealand in the Indo-Pacific.' 'During a time of great uncertainty, instability and disorder, we have taken steps to work more closely on matters of defense and security with India,' he said.
Yahoo
a day ago
- Business
- Yahoo
UK considering sanctions on Ben-Gvir, Smotrich amid Gaza war
British officials are reportedly waiting to assess whether Israel allows enough humanitarian assistance into Gaza before taking further steps in imposing the sanctions, the NYT said. The United Kingdom is considering imposing sanctions on National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, The New York Times reported Thursday. Ben-Gvir and Smotrich have both expressed strong support for Prime Minister Benjamin Netanyahu's campaign to expand IDF operations in Gaza, which has drawn increasing international criticism, according to the New York Times. British officials are reportedly waiting to assess whether Israel allows enough humanitarian assistance into Gaza before taking further steps in imposing the sanctions, the New York Times said. Last week, Ben-Gvir said allowing humanitarian aid into Gaza was 'a grave mistake that delays our victory.' On Monday, Smotrich declared that Israel is 'not afraid of the word occupation' and called for the reestablishment of Jewish communities in the Gaza Strip. 'We are liberating Gaza – and settling it,' he said. The UK announced last week it would pause negotiations on a new free trade agreement with Israel, after Prime Minister Keir Starmer voiced alarm over the military escalation in Gaza. 'While the UK government remains committed to the existing trade agreement in force, it is not possible to advance discussions on a new, upgraded Free Trade Agreement with a Netanyahu government that is pursuing egregious policies in the West Bank and Gaza,' the government said in a statement. UK Foreign Secretary David Lammy, speaking in parliament, highlighted the suspension of trade talks and condemned comments made by Smotrich about relocating Gazans, the NYT reported. 'We must call this what it is,' Lammy said. 'It is extremism. It is dangerous. It is repellent. It is monstrous.' Leaders from the UK, France, and Canada issued a joint statement last week condemning Israel's military operations in Gaza and the ongoing expansion of settlements in the West Bank. 'If Israel does not stop the renewed military offensive and lift restrictions on humanitarian aid, we will take further concrete steps in response,' The Jerusalem Post previously reported.
