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Fibre2Fashion
6 days ago
- Business
- Fibre2Fashion
US manufacturers should focus on tanks, tech, AI, not textiles: Trump
US tariff policy aims at promoting domestic manufacturing of tanks and technology products, not sneakers and T-shirts, President Donald Trump said yesterday. Speaking to reporters before boarding Air Force One in New Jersey, Trump said he agreed with the recent remark by treasury secretary Scott Bessent that the United States does not necessarily need a 'booming textile industry'. The National Council of Textile Organizations (NCTO) had criticised Bessent's comments. US tariff policy aims at promoting domestic manufacturing of tanks and technology products, not sneakers and T-shirts, President Donald Trump said yesterday. He agreed with treasury secretary Scott Bessent's remark that the US does not necessarily need a 'booming textile industry'. "We're not looking to make sneakers and T-shirts. We want to make military equipment….big things…AI thing," he said. "We're not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to make, do the AI thing," Trump said. "I'm not looking to make T-shirts, to be honest. I'm not looking to make socks. We can do that very well in other locations. We are looking to do chips and computers and lots of other things, and tanks and ships," Trump was quoted as saying by global newswires. The American Apparel & Footwear Association (AAFA) responded by saying that that tariffs are not good for the industry. "With 97 per cent of the clothes and shoes we wear being imported, and with clothes and shoes already the most highly tariffed industry in the US, we need to focus on common sense solutions that can move the needle," AAFA president Steve Lamar said in a statement. "More tariffs will only mean higher input costs for US manufacturers and higher prices that will hurt lower income consumers," he noted. Fibre2Fashion News Desk (DS)
Hindustan Times
7 days ago
- Business
- Hindustan Times
‘We want to make tanks, not T-shirts': Donald Trump backs tariffs to boost domestic manufacturing
US President Donald Trump on Sunday said his tariff policy is aimed at boosting domestic manufacturing of military equipment like tanks and advanced technology, rather than everyday items such as sneakers and T-shirts. Speaking to reporters before boarding Air Force One in New Jersey, Trump echoed Treasury Secretary Scott Bessent's April 29 remarks that the US does not necessarily need a 'booming textile industry,' a comment that drew criticism from the National Council of Textile Organizations. 'We're not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to make, do the AI thing,' Trump said. 'I'm not looking to make T-shirts, to be honest. I'm not looking to make socks. We can do that very well in other locations. We are looking to do chips and computers and lots of other things, and tanks and ships,' he added. The American Apparel & Footwear Association (AAFA) warned that tariffs could harm the industry. AAFA President Steve Lamar said, 'With 97 per cent of the clothes and shoes we wear being imported, and with clothes and shoes already the most highly tariffed industry in the US, we need to focus on common sense solutions that can move the needle. More tariffs will only mean higher input costs for US manufacturers and higher prices that will hurt lower-income consumers.' Trump, who has unsettled global markets with broad tariffs, recently renewed threats of a 50 per cent tariff on European Union goods starting June 1 and a possible 25 per cent levy on imported iPhones. However, he extended the EU tariff deadline to July 9 to allow for talks. Winning the 2016 and 2024 US presidential elections partly by appealing to working-class voters affected by manufacturing job losses, Trump has pushed to revive domestic industry through tariffs and investment incentives despite the US economy's reliance on global supply chains where production costs are lower. With Reuters inputs
TimesLIVE
7 days ago
- Business
- TimesLIVE
Trump says US wants to make tanks, not T-shirts
US President Donald Trump said on Sunday his tariff policy was aimed at promoting the domestic manufacturing of tanks and technology products, not sneakers and T-shirts. Speaking to reporters before boarding Air Force One in New Jersey, Trump said he agreed with comments from treasury secretary Scott Bessent on April 29 that the US does not necessarily need a 'booming textile industry', comments that drew criticism from the National Council of Textile Organizations. 'We're not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to make, do the AI thing,' Trump said. 'I'm not looking to make T-shirts. I'm not looking to make socks. We can do that very well in other locations. We are looking to do chips and computers and lots of other things, and tanks and ships,' Trump said. The American Apparel & Footwear Association (AAPA) said in response to Trump's remarks that tariffs were not good for the industry. 'With 97% of the clothes and shoes we wear imported, and with clothes and shoes the most highly tariffed industry in the US, we need to focus on common sense solutions that can move the needle,' said AAPA president Steve Lamar. 'More tariffs will only mean higher input costs for US manufacturers and higher prices will hurt lower income consumers.' Trump, who has upended world markets with the broad imposition of tariffs, revived his harsh trade rhetoric on Friday when he pushed for a 50% tariff on EU goods starting on June 1 and warned Apple he may impose a 25% levy on all imported iPhones bought by US consumers. However, he dialled back on the EU threat on Sunday, extending a deadline for the tariffs until July 9 to allow for talks between Washington and the 27-nation bloc. Trump won the 2016 and 2024 US presidential elections in part by appealing to working class voters hurt by the loss of US manufacturing jobs over many years. He has sought to make good on his promises to boost manufacturing with import tariffs and heralding investments by companies and foreign nations into the US, even as the US economy remains dependent on supply chains with other countries where many goods, including textiles, are produced less expensively.
Indian Express
7 days ago
- Business
- Indian Express
WATCH: Trump says US wants to make ‘tanks, not T-shirts' as he defends tariff policy
US President Donald Trump defended his trade policy as he spoke to reporters in New Jersey before boarding Air Force One on Sunday. He said the country should focus on producing advanced military and technology equipment rather than low-cost consumer items like T-shirts and sneakers. 'I'm not looking to make T-shirts, to be honest. I'm not looking to make socks. We can do that very well in other locations. We are looking to do chips and computers and lots of other things, and tanks and ships,' he said. 'We want to make military equipment. We want to make big things. We want to do the AI thing with computers,' the US president added. Trump said he supported recent remarks made by US Treasury Secretary Scott Bessent, who had questioned the need for a 'booming textile industry'—a comment that drew sharp criticism from the National Council of Textile Organizations. Speaking to the reporters, Trump also mentioned that he has agreed to extend trade talks with the European Union until July 9 and would delay the imposition of his threatened 50% tariff on EU goods, which was scheduled for June 1 in order to negotiate a deal with the bloc. This comes reportedly after he had a call with European Commission President Ursula von der Leyen, who told the US president that she 'wants to get down to serious negotiations.' Trump, who has frequently used tariffs as a tool in his trade strategy, reignited concerns in global markets on Friday by calling for a 50% tariff on goods from the European Union, which was set to take effect from 1 June. He also issued a fresh warning to Apple, suggesting he may impose a 25% tariff on imported iPhones sold to US consumers. (With inputs from Reuters)
New York Post
7 days ago
- Business
- New York Post
Trump says US wants to make tanks, not T-shirts
President Donald Trump said on Sunday his tariff policy was aimed at promoting the domestic manufacturing of tanks and technology products, not sneakers and T-shirts. Speaking to reporters before boarding Air Force One in New Jersey, Trump said he agreed with comments from Treasury Secretary Scott Bessent on April 29 that the US does not necessarily need a 'booming textile industry' – comments that drew criticism from the National Council of Textile Organizations. 'We're not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to make, do the AI thing,' Trump said. Advertisement President Donald Trump speaks to reporters before boarding Air Force One at Morristown Municipal Airport in Morristown, NJ, Sunday, May 25, 2025. AP 'I'm not looking to make T-shirts, to be honest. I'm not looking to make socks. We can do that very well in other locations. We are looking to do chips and computers and lots of other things, and tanks and ships,' Trump said. The American Apparel & Footwear Association said in response to Trump's remarks that tariffs were not good for the industry. Advertisement 'With 97% of the clothes and shoes we wear being imported, and with clothes and shoes already the most highly tariffed industry in the US, we need to focus on common sense solutions that can move the needle,' AAPA President Steve Lamar said in a statement. 'More tariffs will only mean higher input costs for US manufacturers and higher prices that will hurt lower income consumers.' Trump, who has upended world markets with the broad imposition of tariffs, revived his harsh trade rhetoric on Friday when he pushed for a 50% tariff on European Union goods starting June 1 and warned Apple he may impose a 25% levy on all imported iPhones bought by US consumers. US Army personnel load and secure military tanks for transport to Washington, D.C., Thursday, May 22, 2025, at Fort Cavazos near Killeen, Texas. AP Advertisement But he dialed back on the EU threat on Sunday, extending a deadline for those tariffs until July 9 to allow for talks between Washington and the 27-nation bloc. Trump won the 2016 and 2024 US presidential elections in part by appealing to working class voters hurt by the loss of US manufacturing jobs over many years. He has sought to make good on his promises to boost manufacturing with import tariffs and heralding investments by companies and foreign nations into the United States, even as the US economy remains dependent on supply chains with other countries where many goods, including textiles, are produced less expensively.
