New Delhi: China now faces tariffs of up to 245 per cent on import of goods into the United States “as a result of its retaliatory actions”, the White House said Tuesday afternoon (India time) as the trade war between the two countries appears to run further and further off road.

The announcement came as Donald Trump authorised an investigation into “national security risks posed by the US’ reliance on imported, processed critical minerals”, which includes cobalt, lithium, and nickel, and rare-earth metals used to manufacture batteries, such as those used in electric vehicles.

The order points out the US is “dependent on foreign sources… at risk of serious, sustained, and long-term supply chain shocks”, and this dependence “raises potential for risks to national security”.

Until now tit-for-tat tariff exchanges had seen the US levy a 145 per cent tax on Chinese imports and China slap a 125 per cent duty on American goods.

There is, however, some confusion about the tariff on China being ramped up by 100 per cent.

It appears – and the US has not confirmed this as yet – that the 245 per cent mentioned by the White House refers to the total amount of tax that can be levied on Chinese goods imported into the US.

China’s Response

On Wednesday morning a top Chinese official claimed the US’ tariffs were putting “pressure” on it.

However, simultaneously China also said its economy grew a forecast-beating 5.4 per cent in the first quarter. Industrial output climbed 6.5 per cent and retail sales 4.6 per cent year-on-year.

Beijing, though, warned the global economic environment is becoming more “complex and severe” and that more needs to be done to boost growth and consumption.

“If the US really wants to resolve the issue through dialogue and negotiation, it should stop blackmailing and talk to China on the basis of equality, respect and mutual benefit,” spokesman Lin Jian said.

‘Ball In China’s Court…’

Trump, meanwhile, has said China needs to make the first step in any negotiation. “The ball is in China’s court. China needs to make a deal with us. We don’t have to make a deal with them,” the President said, a day after he accused Beijing of reneging on a major Boeing deal.

Trump has repeatedly accused China, India, Brazil, and most of the rest of the world, in fact, of levying higher tariffs on American imports than the US places on goods it imports from them.

He has argued, and this was a major issue in his re-election campaign, that levying reciprocal tariffs will either force others to bring down their taxes or jumpstart a stuttering American manufacturing sector.

In line with that ‘vision’ that Trump, since the start of the year, has imposed duties on imports from China, alongside a 10 per cent ‘baseline’ tariff on many US trading partners.

For China specifically, he stacked a 20 per cent ‘fentanyl tax’, declaring Beijing had failed to control production and distribution of the deadly narcotic, and a 125 per cent charge for “unfair trade practices”.

By April 9 the cumulative tariffs had crossed 100 per cent, prompting markets worldwide, including in the US, to nosedive. Since then Trump has paused several orders, although these don’t impact China.

China responded in kind and also suspended import of sorghum, poultry, and bonemeal, put trade restrictions on 27 American firms, and filed a complaint with the World Trade Organization.

The WTO has said uncertainty over the US-China tariff war could have “severe negative consequences for the world”, and that world merchandise trade is set to fall 0.2 percent for 2025.

However, “severe downside risks… could lead to an even sharper decline of 1.5 percent”.

‘Elephant, Dragon Dance’

The tariff war has also prompted Beijing to reach out to India and the European Union to drum up support. Last month China’s Foreign Minister Wang Yi called on New Delhi and Beijing to “make elephant and dragon dance” and “take the lead in opposing hegemonism and power politics”.

China then called on the European Union to join hands to resist “unilateral bullying” by the US, echoing Xi Jinping’s remarks from earlier and stressing this would not only “safeguard legitimate rights and interests… but also safeguard international fairness and justice.”

Author Credits- Chandrashekar Srinivasan, NDTV WORLD

Fast fashion retailer Shein is reportedly reassessing the scope of its sourcing partnership with Reliance Retail Ventures Limited. As trade tensions rise globally amid new US import tariffs, Shein may increase its focus on domestic manufacturing in China.

Shein may revaluate the Reliance tie up which saw it reenter the Indian market earlier this year, The Economic Times reported, citing sources close to the development. The review comes amid escalating trade tensions between the US and China, with the latter increasing regulatory oversight to discourage domestic manufacturers from shifting production overseas.

The Shein partnership with Reliance was initially aimed at establishing the country as a key export base, India Retailing reported. However, recent geopolitical shifts. including the imposition of a 145% import duty by the US on Chinese goods, have altered the brand’s sourcing calculus.

China’s retaliatory tariff of 125% on US imports and the absence of similar relief measures for Chinese manufacturers have added further pressure on the business, Apparel Resources India reported. While the US has temporarily lifted certain tariffs on Indian goods, China has not benefitted from such exemptions, leading to concerns about Shein’s ability to diversify production into India.

The Reliance-Shein deal, announced nearly five years after Shein was banned in India, had included plans for a locally hosted app and collaboration with around 25,000 Indian micro, small, and medium enterprises. Shein had pledged to equip manufacturers with technology to support global exports.

Now, with China seeking to retain manufacturing dominance and Shein facing declining profits and a reduced valuation, the alliance’s future appears uncertain. Neither company has commented on the ongoing developments to date.

Author Credits- Isabelle Crossley, FASHION NETWORK

As part of its €500m (US$569m) investment in its life sciences and healthcare (LSHC) infrastructure in the Asia Pacific region, DHL Supply Chain has opened a dedicated pharmaceutical logistics facility in Singapore.

The €10m (US$11.3m) Pharma Hub at 8 Jurong Pier in Singapore features specialized temperature-controlled zones including ambient (15-25°C) and cold room (2-8°C), ensuring precise storage conditions for sensitive healthcare products.

It is good manufacturing practice compliant with advanced cold chain infrastructure, including airtight loading docks and dedicated anterooms, ensuring uninterrupted temperature stability throughout the logistics process. Plans are in place to enable pharma-related value-added services including redressing activities.

“At DHL Supply Chain, we are committed to supporting the rapidly growing LSHC sector in Asia Pacific where there is a growing demand for transformative healthcare solutions due to longer lifespans, personalized treatments and rising consumer expectations,” explained Javier Bilbao, CEO, DHL Supply Chain Asia Pacific.

“By 2030, the region’s medical market is projected to reach US$138bn, reflecting the critical need for resilient and efficient supply chains. As part of DHL Group’s Strategy 2030, we have invested ahead to strengthen our infrastructure and capabilities, ensuring we can meet the evolving and increasingly complex needs of our customers.

“Our investment goes beyond building warehouses or expanding networks. It is about building a foundation across all our business units that enables faster, more reliable delivery of life-saving medicines and healthcare products,” Bilbao continued.

“In a region where healthcare demand is surging, we enable our customers to focus on innovation and patient care. At the same time, we handle the complexities of supply chain management across all logistics touchpoints – from storage, order fulfillment and distribution to global shipping and last-mile delivery. This is how we deliver real value: by turning challenges into opportunities and ensuring that every link in the healthcare supply chain works seamlessly.”

Globally, DHL Group has announced an investment of €2bn (US$2.2bn) by 2030 to boost integrated healthcare solutions. It also recently acquired Cryopdp, a specialty courier providing end-to-end temperature-controlled solutions and white-glove services designed for the LSHC industry.

Author Credits- HAZEL KING, Parcel and postal technology INTERNATIONAL

PostNord has announced it will invest SEK1.1bn (US$112m) in a new state-of-the-art, sustainably built terminal for parcel and pallet handling in Vaggeryd, Jönköping County, Sweden.

The terminal is scheduled to open in 2028 and is the company’s largest construction project ever, with a handling capacity of 25,000 parcels per hour – the highest capacity in Sweden, according to PostNord.

“We see a trend where parcel volumes are growing and we need to expand our terminal network in Sweden,” explained Peter Gisel Ekdahl, CEO of PostNord Sweden. “We have established new terminals in Växjö, Örebro, Helsingborg and, most recently, in Norrköping over a number of years. We see an expanding e-commerce market and the establishment in Vaggeryd will create good conditions for us to continue to be the leading player in parcels and logistics in Sweden.”

The new terminal will have a high-tech sorting machine with over 1,000 sorting directions to enable productive and faster handling of goods flows from all over the country. The roof is being prepared for solar panels with possible associated battery storage, and the site will also be equipped with charging infrastructure to contribute to PostNord’s goal of having a fossil-free vehicle fleet by 2030. The building is designed to enable a higher degree of automation than any previous terminal.

“This is more than just a new terminal – it’s an investment in smarter, more sustainable and futureproof logistics. We are not only building for today’s needs but also for the future,” commented Bengt Viktorsson, principal project manager for the construction project.

The terminal will be certified according to BREEAM Very Good or Miljöbyggnad Silver, which ensures that the building meets high standards of energy performance, indoor environment and sustainability. The property company Infrahubs has been commissioned to build the terminal.

“Infrahubs is very proud to be working with PostNord to develop and build this modern and sustainable parcel terminal in a very good strategic location. The collaboration with PostNord confirms that Infrahubs has a leading position and an attractive offer for the logistics and distribution of the future,” said Andreas Ekberg, co-owner of Infrahubs.

Author Credits- HAZEL KING, Parcel and postal technology INTERNATIONAL

Walmart has signed a deal for a second office space in the southern Indian city of Chennai, which is fast emerging as a major technology center after being known for years as a manufacturing hub.

Global companies are increasingly, opens new tab setting up local hubs in India to support their daily operations, research and development and cybersecurity, which has benefitted commercial real estate developers in cities such as Bengaluru, Hyderabad and Pune.

Chennai, traditionally known for being a manufacturing hub, is now seeing global corporate interest in setting up tech hubs, from major companies such as AstraZeneca, opens new tab, UPS, and Pfizer.

Walmart has leased an area of over 465,000 square feet – roughly the size of eight football fields – for an initial period of five years, starting this November, according to a document seen by Reuters on Wednesday.

Although Walmart does not run supermarkets in India yet, it has tech offices in cities such as Chennai and Bengaluru. The Bengaluru office, which employs 8,000 workers, is its biggest tech hub globally.

Walmart did not immediately respond to Reuters’ requests for comment.

News Credits- FASHION NETWORK

The service is live in NCR, Bangalore, and Mumbai, with plans to expand to 5 more cities, including Chennai, and 120 marketplaces and brands in the coming quarters, the release said

Quick commerce logistics start-up Zippee has launched Blaze, its new 60-minute delivery service for online marketplaces across India.

The inaugural cohort of marketplace partners includes Vaaree, Supertails, Haldiram, Mondelez India, and Clinikally, reflecting growing consumer demand for quick commerce and a broadening of faster fulfillment beyond grocery essentials, says a release.

The service is live in NCR, Bangalore, and Mumbai, with plans to expand to 5 more cities, including Chennai, and 120 marketplaces and brands in the coming quarters, the release said.

Founded in 2021, the Gurgaon-based start-up integrates with brands and e-commerce platforms, enabling direct deliveries to customers through their own channels. It uses a network of dark stores and last-mile fleets across 13 cities to power same-day, 2-hour, and now 60-minute deliveries for eligible SKUs.

Zippee has raised $8.5 million funding to date from a consortium of investors, including South Asia Technology Partners, FMCG giant Haldiram Snacks, and notable angel investors such as Kunal Shah, Peyush Bansal, Ashneer Grover, Paramdeep Singh, Tanmay Bhat, Arjun Vaidya, and Raj Shamani, the release said.

News Credits-THE HINDU business line

LVMH shares sank 7.8% a day after the group reported a 2% drop in Q1 sales to 20.3b euros

French group Hermes overtook LVMH as the world’s most valuable luxury company on Tuesday after shares in the Louis Vuitton maker tumbled following weaker-than-expected quarterly sales.

The market capitalisation of Hermes reached 248.6 billion euros ($280.5 billion) at the close of trading in Paris, topping LVMH’s 244.4 billion euros.

LVMH shares sank 7.8 per cent a day after the group owned by Europe’s wealthiest man, Bernard Arnault, reported a two per cent drop in first quarter sales to 20.3 billion euros.

The producer of Louis Vuitton bags reported a slight decline in US sales, where it generates a quarter of its revenue.

The disappointing performance came before President Donald Trump’s April 2 “Liberation Day”, which included 10 per cent tariffs on global imports.

News Credits- GULF NEWS

The increase aligns with significant growth in the Kingdom’s payment systems, with non-cash electronic payment transactions reaching 12.6 billion in 2024, compared to 10.8 billion in the previous year

RIYADH — Electronic payments accounted for 79% of total retail payments in Saudi Arabia in 2024, up from 70% in 2023, according to the Saudi Central Bank (SAMA). The milestone reflects one of the key objectives of the Financial Sector Development Program under Saudi Vision 2030.

The increase aligns with significant growth in the Kingdom’s payment systems, with non-cash electronic payment transactions reaching 12.6 billion in 2024, compared to 10.8 billion in the previous year.

Saudi Arabia has seen rapid adoption of digital payment methods in recent years, driven by strategic initiatives launched by SAMA in collaboration with the financial sector.

These efforts aim to strengthen the payments ecosystem and broaden the use of innovative digital solutions across the country.

SAMA reaffirmed its commitment to continuing the development of national payment systems infrastructure, expanding payment options, and promoting digital payment adoption.

The central bank said it will work with partners to support economic activity and further reduce reliance on cash transactions.

News Credits- Zawya BY LSEG

Ananya Birla’s Birla Cosmetics Pvt Ltd’s (BCPL) has expanded its beauty portfolio with the launch of premium colour cosmetics brand ‘Lovetc’.

Entrepreneur and daughter of Indian billionaire Kumar Mangalam Birla, Ananya made her debut in the beauty and cosmetics market last year with Birla Cosmetics.

The launch of Lovetc is part of the company’s plan to release numerous brands in Indian stores this calendar year. It includes advanced lipsticks, long-wear eyeliners, and volumizing mascaras among others.

Commenting on the launch, Ananya Birla, founder chairperson, Birla Cosmetics in a statement said, “The launch of Lovetc reiterates our constant belief that price is not what defines luxury, the quality of the product does. Better quality at a better cost, Lovetc offers a fresh new take on beauty, by offering world-class, high-performance colour cosmetics where luxury comes as a promise of a better future.”

“With a strategic and consumer-first approach, we are poised to capture a 5-8 percent share of India’s rapidly expanding cosmetics market, leveraging our expertise to drive meaningful impact and long-term growth,” she added.

Lovetc will initially retail through its direct-to-consumer and on Nykaa’s online platform. The brand’s offline retail expansion includes opening 200 stores in the top 20 cities in India.

Author Credits- Maverick Martins, FASHION NETWORK

Under Armour announced on Tuesday the appointment of Dawn Fitzpatrick, Eugene Smith, and Robert Sweeney to the U.S. sportswear firm’s board of directors.

For the last eight years, Fitzpatrick has served as chief executive officer and chief investment officer of Soros Fund Management, privately held investment management firm. Before joining Soros in 2017, the executive spent 25 years at UBS and its predecessor organizations, where she most recently served as head of Investments for UBS Asset Management and was a member of the UBS Asset Management Executive Committee.

Earlier in her career, she held several positions at the UBS O’Connor hedge fund business, including chief executive officer and chief investment officer. Fitzpatrick currently serves as a non-executive director of Barclays plc and serves on its Remuneration, Risk, and Sustainability Committees. Additionally, she serves on the Federal Reserve Bank of Dallas Financial Sector Advisory Council, where she is Chair, the Advisory Council of The Bretton Woods Committee, and the Bloomberg New Economy Advisory Board.

A sporting leadership expert, Smith most recently served as senior vice president and athletic director at Ohio State University from 2005 to 2024. Throughout his tenure, he co-chaired the NCAA’s Federal-State Legislative Working Group, which advised the NCAA on name, image, and likeness issues, chaired the 2011 NCAA Men’s Basketball Committee and was a member of the College Football Playoff Selection Committee. Additionally, he participated in the NCAA’s Management Council, the Committee on Infractions, the Executive Committee, the Football Rules Committee, and the President’s Commission Liaison Committee.

Smith was the first Black president of the National Association of Collegiate Directors of Athletics (NACDA) and a former president of the Division I-A Athletics Directors Association, as well as being the director of athletics at Arizona State from 2000 to 2005, at Iowa State from 1993 to 2000 and at Eastern Michigan from 1986 to 1993.

Since 2019, Sweeney has served as the president of Sycamore Partners, a private equity firm focused on consumer, distribution, and retail-related investments. Before that, the executive spent 22 years at Goldman Sachs, most recently as a partner and global head of the consumer/retail investment banking group.

During his tenure, he provided advisory support to Under Armour on various matters, including the company’s initial public offering in 2005. Sweeney also served as an officer in the U.S. Navy’s Submarine Force from 1989 to 1995, holding various roles aboard the USS Annapolis and at the Submarine Officer Advanced Course training command.

“Dawn and Rob’s extensive financial and operational expertise, combined with Gene’s deep knowledge of intercollegiate sports management, makes them exceptional additions to our board,” said Mohamed El-Erian, chair of the board at Under Armour.

“As we pursue our strategy to create greater value for Under Armour’s athletes, customers, shareholders, and teammates, their unique talents, insights, and passion for the brand will be invaluable for navigating our next chapter.”

In February, Under Armour raised its annual profit forecast again after topping quarterly results, as the sportswear maker reaps the benefits of dialing down on discounts and a recovery in demand.

Revenue fell 5.7% to $1.40 billion in the quarter ended Dec. 31, compared with analysts’ estimates of $1.34 billion, as per data compiled by LSEG.

Adjusted earnings per share of 8 cents, beat estimates of 4 cents.

Author Credits- Benjamin Fitzgerald, FASHION NETWORK