The United States, the European Union’s fifth-largest trading partner, has imposed a 20 per cent tariff on European textiles, potentially disrupting a trade relationship valued at over 9 billion euros. American consumers, who rely on European high-end fashion and technical textiles, may face higher prices and reduced choices.
Euratex Director General Dirk Vantyghem criticized the move, calling it a step backward for global trade. “This decision is like going back in time; it will lead to a lose-lose relationship within the global textile industry,” he stated.
He emphasized the need for free but fair trade, urging the EU and the US to set an example by promoting high-quality, sustainable textile products.
The tariff hike raises concerns about its impact on businesses and consumers on both sides of the Atlantic, with industry leaders calling for dialogue to prevent further trade tensions.
