Overview

• Trump said U.S. tariffs will bolster production of military equipment, semiconductor chips and AI systems rather than consumer apparel and footwear.
• He agreed with Treasury Secretary Scott Bessent’s view that a booming textile industry is not essential to U.S. economic strategy.
• The administration postponed planned 50 percent duties on European Union goods until July 9 to create room for talks with the European Commission.
• The American Apparel & Footwear Association warned that higher tariffs would drive up manufacturing costs and squeeze lower-income consumers.
• Chinese and Vietnamese garment exporters report little change to their strategies given persistent uncertainty over U.S. trade policy.