Foreign direct investment in the retail/apparel sector fell by more than 50 percent and is expected to decline again in 2021, a U.N. study said.
An ILO report warns a second wave of the coronavirus could derail an economic recovery in the second half of 2020.
A U.N. agency projects global trade overall in value terms will contract by 27 percent in the second quarter.
The retail and wholesale sector has been the hardest hit globally, according to the International Labour Organization.
Quarantine measures and factory and retail store closures have significantly suppressed consumer demand, leading to sharp cutbacks in orders.
The retail, travel and tourism sectors are seen as especially vulnerable to job losses as a result of the crisis.
A U.N. report estimated that the total impact on exports in global value chains from the virus will be up to $50 billion.
The increase in fashion applications worldwide stems from companies’ desire to protect their trademarks, officials at the World Intellectual Property Organization said.
After being given the green light from the WTO, the U.S. will impose tariffs on $7.5 billion of European goods.
A raft of luxe goods including handbags and suits could soon be hit with tariffs, leaving brands little choice but to raise prices.