The European Union will drop a 26 percent retaliatory tax on women’s jeans made in the U.S. to 0.35 percent on May 1.
This move, announced Wednesday by Sandler, Travis & Rosenberg, a Washington-based law firm specializing in Customs and international trade, and confirmed by the European Union, will lower the EU duty rate on such jeans to 12.35 percent a year after it saw a significant increase in an ongoing trade dispute.
The duty rate hike on jeans was part of a continuation of sanctions authorized by the World Trade Organization in retaliation for U.S. noncompliance with a WTO ruling against the Continued Dumping and Subsidy Offset Act of 2000. Commonly referred to as the Byrd Amendment, this law allowed the U.S. to distribute antidumping and countervailing duties collected on foreign-made goods to affected domestic industries. The law was found to violate WTO rules and subsequently repealed, but distributions were allowed to continue for cases initiated prior to the repeal.
In response, the WTO allows each affected country to raise its tariffs on goods imported from the U.S. in direct relation to the amount of antidumping or countervailing duties on goods from that country that were distributed during the previous year. When the amount distributed in 2012 with respect to EU goods spiked, so did the value of U.S. exports the EU could target, prompting Brussels to add women’s jeans to the retaliation list for 2013. However, distributions in 2013 decreased by nearly half of the 2012 amount, resulting in the drastic reduction of the retaliatory tariffs on jeans and other goods.
The action came the same day as President Obama and European leaders, while seeking to present a united front against Russian aggression, reaffirmed their commitment to a U.S.-EU free-trade agreement at a summit in Brussels. They said economic ties between the U.S. and Europe, including the Trans-Atlantic Trade and Investment Partnership that seeks to remove trade barriers between the 28-nation bloc and the U.S., would help show the strong connection and resolve between the Western allies to Russia and others that try to force a wedge between them.
Speaking at a news conference, Obama said, “I’m confident we can actually shape a trade deal” that is acceptable to critics on consumer protections and climate issues. He said those are areas that have long been a cornerstone of his policies. The leaders noted that T-TIP would also provide leverage against Russian attempts to use energy as political ransom.
The U.S. and EU said a comprehensive T-TIP deal will strengthen their economic partnership that already accounts for nearly half of global output and supports $1 trillion in annual two-way trade, almost $4 trillion in total trans-Atlantic investments and 13 million jobs on both sides of the Atlantic. The common goals of the agreement are expanding access to each other’s markets for goods, services, investment and procurement; increasing regulatory compatibility while maintaining the high levels of health, safety, labor and environmental protection, and formulating joint approaches to rules that address global trade challenges of common concern.
@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