One of the newest sustainability trends is making old
garments new again. Evrnu, a Seattle-based textile-technology startup, is making
old clothes and fabrics into new fibers that can be used for recyclable fashion.
Although their products are still being tested, Evrnu has
just launched a limited run of recyclable unisex sweatshirts for Adidas by
Stella McCartney, calling them “EVER-new.” The hoodies will not be available
for the public until 2020 but will be given to athletes to promote the new
sustainable line. “Right now, in the U.S., consumers dispose of about 80% of
their textiles directly into their garbage can. That’s the behavior we’re
really trying to tackle,” said Stacy Flynn, chief executive and co-founder of
Evrnu. Recycled textiles can be made into premium fibers which can be dyed and
woven into new fabrics made for all different types and styles of clothing. In
2016, Evrnu teamed up with Levi’s Jeans and launched a prototype of jeans made
only from repurposed cotton T-shirts.
Consumers are becoming more aware of certain industries’
toll on the environment, including the fashion industry. Although creating new
fibers still has some detrimental impact, the process uses a fraction of the
amount of energy and chemicals used to make polyester clothing. These recycled garments
may end up having a higher price-point, but as more people become aware of how
sustainability can help the environment, people may be willing to pay more.
ETC takes great pride in working with sustainable and eco-friendly companies. Contact us for all your factoring needs!
As the trade finance industry faces challenges related to
logistics and fraud, blockchain technology may help in creating transparency and
assurance of delivery while still providing confidentiality for trade parties. Blockchain
can support cross border trade transactions that otherwise would be difficult due
to costs and the documentation process.
90% of the world relies on trade finance and the
incorporation of blockchain would speed the delivery of funds and reduce the
usage of paper. The trade finance industry still operates in a very old-fashioned
manner, which entails manual inputting documents and physical letters of credit
to ensure that payments will be received. Blockchain may streamline such manualcomplexity by enabling companies to
securely and digitally confirm where products were originated, its transaction
details, and other requisite information. Indeed, through blockchain, payments
can be processed through a tokenized form depending upon the delivery or
receipt of goods. Focusing on just contracts, parties can create their own
rules that would ensure automatic payments and eliminate the possibility of
missed, or repeated shipments. Incorporating blockchain technology will create greater
trust for trade parties that may well result in an increase in global trade.
After meeting with President Xi over the weekend, President Trump announced decisions regarding the bilateral trade dispute. The President announced that while current tariffs will remain in place, he will not move forward with additional tariffs as negotiations continue. Therefore, there are no immediate plans to implement Tranche or List 4 trade-remedy tariffs.
The United States Trade Representative recently concluded seven days of hearings on the proposed List 4. The testimony and comments solicited from the public as part of the List 4 review may influence the products to be included and tariff rate if and when any additional trade-remedy actions are taken. But for now, any action on List 4 is on hold.
If you import from China, Express Trade Capital is here to assist with trade strategies to minimize the impact, apply for exemptions, and process refund claims where exemptions have been granted. Click here to contact Express Trade Capital for expertise and support. We are here to help.
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Late Friday night the President announced successful negotiations with Mexico. With a signed agreement addressing illegal immigration, the President has suspended indefinitely the planned tariffs against Mexico.
The 5% tariff on goods from Mexico will not go into effect on June 10, 2019.
On May 31, 2019,
President Trump issued a proclamation announcing the termination of India as a beneficiary
developing country. The decision comes as a result of the fact that,
according to the President, India has not assured the United States
that it will provide equitable and reasonable access to its markets as
well as refrain from engaging in unreasonable export practices.
things, this means that US imports from India entered for consumption or
withdrawn from warehouse for consumption, will no longer be eligible for
preferential duty treatment under the Generalized
System of Preferences as of June 5.
Contact Us to learn how ETC can help you manage your supply chain and any unforeseen costs.
President Trump has announced plans to impose 5 percent tariffs on all goods imported from Mexico, rising to as high as 25 percent until – according to the White House – the Mexican government stems the flow of migrants. While most specifics are not yet known – conceptually, tariffs will become effective June 10 and gradually increase by 5 percent each month until they reach 25 percent in October.
What we still don’t know:
If the action is to be administered by the date
If all exports from Mexico to the US are covered
including non-Mexican origin goods exported from Mexico and the US goods returned
Whether NAFTA benefits for duty and merchandise
processing fee will be allowed
Whether these tariffs are eligible for drawback,
For US importers, this has a few implications. First, all
goods brought in from Turkey are no longer eligible for preferential duties
under the Generalized System of Preferences, or GSP. Crystalline silicon photovoltaic
(CSVP) cells from Turkey are now subject to safeguards outlined in Proclamation
9693. Additionally, large residential washers coming from Turkey will
be subject to stipulations indicated in Proclamation 9694.
Per last week’s announcement, the White House has raised existing tariffs on $200B worth of Chinese imports from 10% to 25% and is now threatening new tariffs of up to 25% on an additional $300B worth of Chinese imports as part of its ongoing trade war with China. The latest list targets a wide variety of goods, including apparel, accessories, food and beverage products, and livestock.
President Trump seems
optimistic about reaching an agreement with Chinese President Xi Jinping and downplays the conflict
as a “little squabble…because we’ve been treated very unfairly for many,
many decades.” The proposed changes will likely take effect in late
June or July unless a trade agreement can be reached before
should begin preparing to either pay the newly raised tariffs or
acquire their goods elsewhere.
Talk to our team
learn how ETC can help you plan for the increased costs your business will incur due to the new tariffs and how to protect your
business during these uncertain times.
Due to delays in establishing a trade deal between the US and China, the President unofficially announced plans to raise the trade remedy tariff from 10% to 25% effective Friday. This will seemingly apply to all List III goods. The President also suggested a possible extension of the trade remedy tariffs to all imports from China.
Although an official notice has not been published yet, it is wise to prepare for the tariff increase as of May 10 if you import any included goods from China.