Latest news with #UFLPA
Business Wire
15-05-2025
- Business
- Business Wire
Recover™ and Intradeco Announce Strategic Joint Venture to Enhance Recycled Cotton Fiber Production in Central America
MADRID--(BUSINESS WIRE)--Recover™, the leading materials science company and large-scale producer of sustainable, high‑quality recycled cotton fiber and cotton fiber blends, and Intradeco, a global vertical manufacturing group and prominent player in the textile industry, offering high-quality apparel across an extensive range of categories, are pleased to announce the formation of a strategic joint venture aimed at producing Recover™ recycled cotton fiber and revolutionizing the textile production landscape in the Western hemisphere. This partnership marks a significant milestone in both companies' commitment to sustainability and innovation. "We are thrilled to partner with Intradeco to bring our sustainable textile solutions to the Americas and address the increasing demand for nearshoring in the region." said Anders Sjöblom, CEO at Recover™ Share The joint venture will be based in El Salvador, leveraging the region's strategic position within the Americas' textile economy offering near shore quick and flexible models to our customers supply chains. This partnership will be the beginning in a process of developing closed textile loops and more circular textile systems in the mid-term. This collaboration will enable both companies to capitalize on the growing importance of the CAFTA region, where major global brands and retailers are establishing production hubs in response to recent potential trade tensions in the Americas. The new processing plant in Central America is strategically located close to textile waste and production streams, allowing it to operate in a cost-efficient manner, offering fast lead times while lowering the supply chains carbon footprint. Additionally, the initiative will simplify compliance with the UFLPA for US textile and apparel manufacturers, while also addressing the increasing demand for nearshoring. Recover™ brings its proprietary process and know-how to produce low-impact, high-quality recycled cotton fiber, which will be a cornerstone of the joint venture's operations. This technological expertise will enhance the venture's ability to deliver innovative and sustainable textile solutions to the market. "We are thrilled to partner with Intradeco to bring our sustainable textile solutions to the Americas and address the increasing demand for nearshoring in the region. This joint venture is another step in our journey to enable large-scale sustainable change in fashion through business value and inspiration. Together, we aim to support changed trade patterns and drive innovation and sustainability in the textile industry,' s aid Anders Sjöblom, CEO of Recover™. "Intradeco is excited to partner with Recover™ to enhance our production capabilities and deliver high-quality, recycled products at scale to our customers. This partnership represents a significant step forward in our commitment to sustainability," said Jaime Miguel, CEO of Intradeco. Recover™ now offers sustainable and cost-competitive solutions for brands and retailers in most major textile production hubs, serving customers from Spain, Bangladesh, Vietnam, Pakistan, and now El Salvador. The joint venture is set to commence operations in 2025, with initial shredding activities being temporarily managed out of Recover™ Spanish factory. About Recover™ Recover™ is a leading materials science company and global producer of low-impact, high-quality recycled cotton fiber and cotton fiber blends. Its premium, environmentally friendly, and cost-competitive products are created in partnership with the supply chain for global retailers and brands, offering a sustainable solution to enable large-scale sustainable change in fashion through business value and inspiration. As a fourth generation, family-owned company, and backed by recent investment from STORY3 Capital and Goldman Sachs, Recover™ is on a mission to scale its proprietary technology to make a lasting positive impact on the environment and partner with brands/retailers and other change-makers to meet the industry's sustainability targets. For more information, contact us at press@ visit and follow @recoverfiber on social media. Intradeco Apparel is a vertically integrated global manufacturing company that supplies quality casual clothing to major retailers across North America. Our long-standing commitment to sustainability has been recognized by various industry partners and leaders. Intradeco has been a pioneer in manufacturing of recycled yarns and textiles in the western hemisphere, as well as a major player in renewable energy production and water recycling in textile processes.
Reuters
04-04-2025
- Business
- Reuters
Maxeon Solar to set up alternative supply chains amid tariff turmoil
Companies Maxeon Solar Technologies Ltd April 4 (Reuters) - Renewable energy company Maxeon Solar Technologies (MAXN.O), opens new tab said on Friday it would establish alternative manufacturing and supply chains as a result of U.S. President Donald Trump's sweeping tariffs. Shares of the company were up 4.6% in trading after the bell. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The move comes amid an intensifying global trade war after Trump on Wednesday imposed a 10% baseline tariff on all U.S. imports, along with higher duties on dozens of other countries. Maxeon said the new tariffs and trade barriers were applicable to its legacy cell and module manufacturing facilities. The company added it would continue to prioritize the development of its Albuquerque-based manufacturing facility as well as identifying additional domestic component vendors. "Domestic manufacturing is the right thing to do, regardless of tariffs," said CEO George Guo. The company is also locked in a dispute with the U.S. Customs & Border Protection (CBP), which began to detain Maxeon's solar panels in July last year, citing the Uyghur Forced Labor Prevention Act (UFLPA). The California-based firm said on Friday the CBP had denied its request to further review the continued detention of its modules and added that it was considering exercising its right to contest CBP's decision at the U.S. Court of International Trade to demonstrate that its products fully comply with the UFLPA.
Yahoo
14-03-2025
- Business
- Yahoo
U.S. Customs Sees Dropoff in External Revenue Month Over Month
United States Customs and Border Protection (CBP) released its monthly report Wednesday, detailing the progress it made last month. And for the most part, its seizure and revenue metrics have declined. Though it completed a similar number of audits in February as it did in January, the yield from those audits proved to be markedly less than they were in the previous month. More from Sourcing Journal Trump Promised Tariffs Would Benefit US Manufacturers. They Say It's Not That Simple Apparel Prices Rose in February, Could Go Higher As China Pushes Back on Tariffs Tariff Ticker: EU, Canada Slap US With Retaliatory Duties, Industry Urges 'Extreme Caution' in Escalating Trade Wars In January, CBP completed 30 audits that flagged $71 million in outstanding duties and fees, but in February, 28 audits found $2.9 million in unpaid duties or fees, down 96 percent from January. Those duties and fees come from 'imported goods that had been improperly declared in accordance with U.S. trade laws and customs regulations,' per CBP's report. In its February report, the agency noted it had 'collected over $74.5 million of this identified revenue and from previous fiscal years' assignments.' In January, that figure stood at $703 million, which means that, month over month, that revenue stream decreased by about 90 percent. External revenue wasn't the only metric that saw a double-digit drop in February, when stacked up against January. Last month, CBP stopped about 51 percent fewer shipments on suspicion of violating the forced labor laws than it did in January. In January, CBP stopped 1,986 shipments with a value of $13 million, while in February it stopped 1,024 shipments with a total value of $9.7 million. Last year, apparel, footwear and textiles accounted for 13 percent of the overall number of shipments stopped by CBP on suspicion related to the Uyghur Forced Labor Prevention Act (UFLPA). Counterfeits, too, have become an area of focus for CBP—and, amidst shrinking seizure value in other categories, the illegally duplicated items proved a bright spot for the agency last month. In February, the agency seized 1,815 shipments containing over $525 million worth of counterfeits. That far exceeds the value of counterfeits seized by the agency in January; in that month, it seized 1,977 shipments with a total counterfeit value of over $291 million, which means, between January and February, the value of stopped counterfeit goods increased by 55 percent. One of CBP's most pressing tasks at the moment is integrating a system that can handle the tariffs and fees that would be brought in should the Trump administration make good on its threat to axe the de minimis provision. To date, it has used its Section 321 Data Pilot, with partners like Amazon, FedEx and Shein, to verify how preemptive information about low-value shipments can help the agency clear them before they reach U.S. entry points. But CBP has yet to announce whether it will re-up that pilot, fully implement a program based on the results from the pilot or set other measures for processing an influx of shipments in place. In the meantime, goods coming from China that are ineligible for de minimis entry have been subject to tariffs decreed by Trump. That reality hasn't been sitting well for many brands and retailers; data from BlueCherry shows that economic and political fluctuations are a serious concern for four in 10 executives working in fashion and apparel. Paul Magel, president, business applications and technology outsourcing at BlueCherry's owner, CGS, said he believes much of the worry plaguing those brands and retailers comes from the question over which sourcing destinations could be slapped with tariffs next. As that uncertainty continues to loom, it has started to affect retailers' future plans. Per CBP, the proportion of goods entering the United States via ship stayed around 35 percent in February, up less than one percentage point from January. And data from the National Retail Federation (NRF) shows that inbound cargo remains high as brands and retailers play the waiting game on yet more tariffs. January's imports were up 13.4 percent year on year, according to the NRF's Global Port Tracker, which it runs in tandem with Hackett & Associates. Jonathan Gold, vice president for supply chain and customs policy at NRF, said the trade group doesn't see that trend stopping. 'Retailers are continuing to bring as much merchandise into the country ahead of rising tariffs as possible,' Gold said in a statement earlier this week. Sign in to access your portfolio
Khaleej Times
05-02-2025
- Business
- Khaleej Times
Shein, Temu may be added to 'forced labour' list as Trump administration considers move
The U.S. is discussing whether to add Chinese ecommerce retailers Shein and Temu to the Department of Homeland Security's (DHS) 'forced labour' list, Semafor reported on Tuesday. The Trump administration has not made a final decision on the matter and could ultimately decide not to list either, the report said, citing two sources familiar with the discussions. Both companies denied the use of forced labour. "We are not aware of any such consideration," Shein said in an emailed statement to Reuters. The company is in full compliance with the US UFLPA (Uyghur Forced Labour Prevention Act), it added. "Temu strictly prohibits the use of forced labour and enforces our Third-Party Code of Conduct, which bars all forms of involuntary labour," Temu said in an email. The move comes after China imposed targeted tariffs on U.S. imports and put several companies, including Alphabet Inc's Google, on notice for possible sanctions, in a measured response to U.S. President Donald Trump's levies, which came into effect on Tuesday.
Yahoo
05-02-2025
- Business
- Yahoo
Trump administration weighs adding Shein, Temu to forced labor list
The Trump administration is discussing whether to add low-priced Chinese retail companies Shein and Temu to the Department of Homeland Security's forced labor list, two sources familiar with the discussions told Semafor. Listing the two companies, which are popular in the US, would be a significant move by the administration and signal its interest in cracking down on consumer products imported from China. Both sources noted that the administration has made no final decision on the matter and could ultimately decide not to list either. DHS, as well as a representative for Temu, didn't immediately return requests for comment. A Shein spokesperson said in a statement: 'We are not aware of any such consideration. Furthermore, a complete and fair review of the facts would demonstrate we are in full compliance with the UFLPA. We have made it our priority to implement best in class standards, including our voluntary participation in the CBP Section 321 Data Pilot program. We have confidence in our products and the integrity of our supply chain.' The forced labor list, established by Congress through the 2021 Uyghur Forced Labor Prevention Act, singles out companies that rely on forced labor to mine, produce, or manufacture goods in China's Xinjiang region. Trump has already taken action that affects the two giant Chinese fashion firms, shutting down a loophole this week called the 'de minimis' exemption that allowed companies shipping packages valued under $800 into the US to avoid taxes and extra scrutiny. The halt is part of Trump's 10% additional tariffs on China. 'It would be a pretty bold move,' to add the fast-fashion companies to the list, said Greta Peisch, a former general counsel for the US trade representative under the Biden administration. She added that, alongside the ending of the shipping exemption, it would show the Trump administration is 'really targeting consumer goods.' A bipartisan investigation by the House select committee on China in 2023 concluded that Temu was probably shipping goods made with forced labor into the US on a 'regular basis,' while also faulting Shein's use of the de minimis exception. Shein, which was founded in China but now has headquarters in Singapore, has said in the past that it does not tolerate forced labor. Shein is facing an investigation in the European Union over its compliance with consumer laws, Bloomberg reported. The prices of goods shipped by Shein, Temu, and Amazon Haul into the US are projected to rise given Trump's move to close the de minimis loophole, Reuters reported. Shein called for a 'complete makeover' of the de minimis provision back in 2023, Semafor reported at the time.
