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Looming U.S. Tariffs Threaten Asia’s Garment Supply Chain Stability

The Asian garment industry, a cornerstone of global apparel production, faces mounting pressure as the United States considers imposing higher tariffs on imported textiles and clothing. Industry stakeholders across major manufacturing hubs such as Bangladesh, Vietnam, and India are expressing concern over the financial strain these tariffs may introduce, particularly for low-margin producers. U.S. policymakers argue that the increased tariffs aim to reduce reliance on foreign manufacturing and encourage domestic production. However, trade experts warn that the move may spark price hikes for consumers, disrupt supply chains, and lead to job losses across developing economies heavily dependent on textile exports. Manufacturers are now exploring contingency plans: diversifying supply bases, investing in automation to reduce costs, and seeking new markets outside North America. Still, the unpredictability of trade policies leaves many factories in limbo. As the trade talks evolve, the garm...
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Wall Street Mixed as Red-Hot Chipmaker Nvidia Claws Back Losses

 

World stocks experienced mixed performance today, with Wall Street showing a quiet and varied session. The red-hot chipmaker Nvidia, which had seen a meteoric rise in recent weeks, contributed to the market’s mixed sentiment.

Nvidia’s Recovery

  • Nvidia’s stock rose 2.2% before the opening bell, signaling a partial recovery from its recent losses. The frenzy over artificial intelligence (AI) that had propelled Nvidia’s stock to new heights appeared to be cooling down.
  • Just last week, Nvidia briefly overtook Microsoft as Wall Street’s most valuable company. However, in the past three days, it had declined nearly 13%.

Other Market Highlights

  • Microsoft: Shares of Microsoft remained essentially flat after the European Union accused the software giant of violating antitrust rules related to its Teams messaging and videoconferencing app.
  • SolarEdge: Solar panel manufacturer SolarEdge faced challenges, with its stock tumbling more than 17% before the bell. Customer PM&M Electric, owing SolarEdge over $11 million, filed for bankruptcy. Additionally, SolarEdge announced plans to raise $300 million through the sale of convertible senior notes.
  • Epac: Toolmaker Epac slid more than 9% due to missed third-quarter sales targets and lower-than-expected fourth-quarter revenue guidance.
  • Consumer Confidence Report: Later today, the Conference Board will release the latest consumer confidence report. In May, U.S. consumers showed increased confidence despite elevated inflation and high interest rates.
  • Global Markets: In Europe, France’s CAC 40 lost 0.8%, Germany’s DAX sank 1%, and Britain’s FTSE 100 was 0.2% lower. Japan’s benchmark Nikkei 225 surged 1%, while the Hang Seng in Hong Kong recovered most of its daytime losses to end 0.3% higher.

Conclusion

Today’s market reflects a mix of optimism and caution, with Nvidia’s performance closely watched. 

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