WASHINGTON — Federal officials have warned that the steep automatic cuts that hit government agency budgets at midnight Friday could choke goods moving through the nation’s ports, impair ongoing trade negotiations on an Asia-Pacific trade deal and impede the launch of a U.S.-European Union trade accord.
While industry trade groups are concerned about the warnings, most are taking a wait-and-see approach to the actual impact on trade. The failure of the Obama administration and Congress to break through the budget impasse after a White House meeting on Friday triggered $85 billion in across-the-board spending cuts through the end of the current budget year, which runs through Sept. 30.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"