00:09In a U-turn, the US President announced on Wednesday a 90-day pause in reciprocal tariffs except for China.
00:17If he were to carry out his threat, products from the EU entering the United States would be subject to a 20% surtax.
00:25We took the pulse of the textile sector at a time of uncertainty.
00:29European exports of textiles and apparel is around 7.5 billion euro per year.
00:36So if Mr Trump maintains his 20% tariff addition, that means 1.5 billion euro of tariffs.
00:46So that's the impact if things stay as they are.
00:50Across that 7.5 billion, it's mainly high-end apparel products.
00:57So fashion products coming from Italy, from France.
01:00So these are the countries that would have the biggest impact.
01:04More worryingly, Asian textile products not exported to the United States could end up being redirected to the European market.
01:12If that wall is being established from China, from Cambodia, from Vietnam, there will be a bigger supply, an even bigger supply of apparel products made in Asia pushed on the European markets.
01:27And so that indirect impact may be even bigger than the direct consequence of paying 20% tariffs on the US markets.
01:34EU Commission President Ursula von der Leyen said she wouldn't tolerate an influx of Chinese products onto the European market and would take safeguard measures if necessary.
