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.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews