U.S. President Trump addresses the Joint Session of Congress.
President Trump promised again to reform the U.S. tax code with a “big, big cut” for American corporations during an address to a joint session of Congress.In a wide-ranging speech where the President promised “a new chapter of American greatness” supported by a wall along the U.S. border with Mexico and a budget proposing one of the largest increases in defense spending ever. He also signaled anew his intention to cut corporate taxes.“Right now, American companies are taxed at one of the highest rates anywhere in the world,” Trump said. “My economic team is developing historic tax reform that will reduce the tax rate on our companies so they can compete and thrive anywhere and with anyone.”The president did not offer specifics beyond saying “it will be a big, big cut.”Trump also promised to cut taxes for middle class Americans, adding “we must create a level playing field for American companies and our workers.” The same sentiment came out of a recent meeting with retail executives. The President went on to briefly mention imports and exports, noting that the U.S. currently charges countries exporting their goods to America “nothing or almost nothing,” while other countries “make us pay very high tariffs and taxes.”Trump recounted a recent meeting with executives from Harley Davidson, who told him that the company has a difficult time selling internationally because their motorcycles and goods are taxed at such a high rate.“I believe strongly in free trade, but it also has to be fair trade,” Trump said. “It has been a long time since we had fair trade.”“I am not going to let America and its great companies and workers be taken advantage of anymore. They have taken advantage of our country. No longer,” he added.The President did not define the “they” that has been taking advantage of American companies and did not detail any changes to trade policies during Tuesday night’s speech. He also did not mention what has come to be known has the border adjustment tax — largely opposed by the retail industry — which would see corporations paying U.S. taxes based on their sales in the country, not where they’re headquartered. In earlier statements aimed at bolstering his America first agenda, Trump has also vowed to impose a tariff of up to 45 percent on goods from China, which experts have argued would lead to an increase in the retail cost for a range of consumer goods.
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)
@badgalriri’s @fentybeauty launch in September was a massive success on social media, powering $72.9 million of earned media value, according to Tribe Dynamics. The brand’s foundation offering sparked conversations about diversity in beauty, launching the growth of emerging influencers and propelling the brand’s support on social media. Today, #fentybeauty won Launch of the Year at the WWD #BeautyIncAwards. (📷: Chema Moya/EPE-EFE)
@marianna_hewitt has become one of the most influential content creators in the beauty space, with almost 800,000 Instagram followers and a newly launched skin care line called @SummerFridays. Today, she was awarded Influencer of the Year at the WWD #BeautyIncAwards. (📸: @sophiachabbott )
As shopping behaviors evolve, the retail experience must follow. Head over to retail experts @colliersinternational’s Knowledge Leader series to read more about the shift in our shopping era. #colliersretail #lovecolliers
@prada opened a pop-up club, called Prada Double Club, in collaboration with German artist Cartsen Höller at @artbasel Miami. Last night, guests – including @youngparis, @ritaora and even Miuccia Prada herself – gathered in a former ice factory where the pop-up is housed for a performance from @wyclefjean. Go to WWD.com for full coverage on all the exhibits, parties and more at #ArtBaselMiami. #wwdeye (📷: @lexieblacklock)
@louboutinworld and @disney are making magic once again, creating a set of shoe designs for the release of “Star Wars: The Last Jedi.” Louboutin designed a pair of shoes for each of the film’s four female leads: Rey (@daisyridrey), Vice Admiral Amilyn Holdo (@lauradern), Captain Phasma (Gwendoline Christie) and Rose Tico (@kellymarietran). The shoes will debut on Saturday at the L.A. premiere of the latest episode. #wwdfashion
Today at the #BeautyIncAwards 2017, WWD will be joined by beauty leaders from around the world as we honor this year's most innovative people, products, brands and places. Follow along here and on Twitter for live coverage from the exclusive event. #wwdsummits (📷: @elizaflorendo)
Exclusive: Beauty superinfluencer @marianna_hewitt is launching her first-ever skin care brand with her business partner @laurengores. Their new line Summer Fridays, which will be sold exclusively at summerfridays.com starting in January, is launching with just one product – a hydrating cream Jet Lag Mask. “We wanted to focus on one product that was amazing,” said Hewitt. Read the full interview on WWD.com. Link in bio. #wwdbeauty #wwdnews
Michelin star-rated chef PJ Calapa marks his first solo endeavor with today’s opening of @scampinyc –– the new Southern Italian restaurant located in Manhattans’ Flatiron District. The upscale yet welcoming environment matches the menu, which includes two types of scampi: traditional Italian langoustines in butter and the Americanized version with shrimp over pasta 🍤 - pictured here. #wwdeye (📷: George Chinsee)