GENEVA — World Trade Organization countries could boost global exports by as much as $314 billion a year if they moved to drop their tariffs — one of the goals being pursued in the current Doha round of trade talks, according to a report...
GENEVA — World Trade Organization countries could boost global exports by as much as $314 billion a year if they moved to drop their tariffs — one of the goals being pursued in the current Doha round of trade talks, according to a report by a United Nations agency.
The study warned that such a move could result in the loss of many textile and apparel jobs in Western Hemisphere countries, with employment migrating to the Far East.
The report by the U.N. Conference on Trade & Development estimated that developing countries may potentially increase export revenues by $175 billion, with China and Hong Kong together seeing a $67 billion gain, representing 11.2 percent of their current exports, and India experiencing a 25.2 percent rise to $16 billion.
For industrialized economies, the study projects export gains of $139 billion with the benefits for the U.S. put at $36 billion, a 5.7 percent gain; the European Union rising $43 billion or 1.6 percent, and Japan up $27 billion or 5.7 percent.
The study notes that on average the weighed tariffs slapped on developing country exports “is twice the average faced by imports from other developed countries.”
However, the benefits are expected to vary from country to country and sector by sector, and the changes could bring economic setbacks such as loss of jobs and decreased wages.
“In some sectors we expect downside risks,” Sam Laird, UNCTAD’s chief of trade research, told reporters.
The tariff cuts are projected to spur large employment gains in some sectors such as textiles and apparel for low-cost producers such as China and India, but would result in large contractions in labor usage in the U.S., Mexico, the EU and Canada.
The projections are based on the ambitious “Swiss Formula,” the most sweeping proposal to date on tariff reductions, which would cut all tariffs in some sectors — including apparel and textiles — eliminate “nuisance tariffs” of 2 percent or less and trim peak tariffs for all countries.
The U.S. first proposed in 2002 the idea of lessening duties on all industrial goods by 2015, though it’s considered politically unrealistic by many developing countries.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast