US modifies Canada tariffs; carpets added, packaging removed

US has revised Section 338 tariffs on Canadian goods, adding carpets and valves while removing packing boxes, plywood sheets, paper items and equipment.Effective October 30, 2026, the changes apply regardless of USMCA origin and alongside Section 232 tariffs, with some duties at 50 per cent.The move further modifies July and September measures imposed after US-Canada trade talks broke down.

Woolmark has launched Return to Real after Ipsos research in five markets found 82 per cent prefer natural fibres over synthetics when price, style and fit are equal.The survey covered the US, France, Germany, Italy and China; Merino wool beat polyester in every market.It also found 67 per cent would pay more for clothing made mainly from natural fibres, while 71 per cent value certification.

Turkiye's seasonally adjusted retail trade confidence index rose 1.1 per cent month on month to 112.5 in October 2026, while services confidence fell 2.4 per cent to 109.2.
Construction confidence edged up 0.4 per cent to 83.3, the Turkish Statistical Institute said.
Indices above 100 indicate optimism; below 100 indicates pessimism.

India’s textile industry expanded to nearly $190 billion in FY2026 and is targeting $350 billion by 2030, Rubix Data Sciences said.
Textile and apparel exports fell 2.7 per cent to $35.8 billion in FY2026, while imports rose 17.1 per cent to $9.6 billion.
Exports including handicrafts rose 10.3 per cent year-on-year in April-August 2026, with cotton textiles up 18.0 per cent.

UK manufacturing output is expected to stabilise in the three months to January after a broad-based fall in the quarter to October, the CBI survey shows.
New orders fell in October at the slowest pace since April 2025, while domestic and export orders declined and competitiveness weakened in major markets.Costs remain high, prices trail cost inflation and investment plans stay weak.

South African retailer Pick n Pay’s online clothing sales surged 137 per cent in H1 FY27, supported by its asap! app.Clothing store turnover rose 3.9 per cent, although like-for-like sales declined 0.7 per cent.Group trading profit increased 58.1 per cent, while its headline loss narrowed to R299 million as turnaround efforts progressed towards FY29 break-even.

Paraguay's apparel imports rose 24.1 per cent to $166.963 million in January-September 2026 (3Q), while exports increased 24.6 per cent to $109.439 million.
Trousers and shorts led both flows; T-shirts, coats, socks and shirts were other key categories.
The apparel trade deficit widened to $57.524 million from $46.704 million as higher import values outweighed export gains.

Research from Locus Robotics says 61 per cent of Gen Z apparel shoppers bracket purchases, compared with 15 per cent of Baby Boomers, adding returns pressure.
It also found 79 per cent of Gen Z and 75 per cent of Millennials have bought apparel, beauty or skincare after social-media discovery.
Stores still led recent purchases, but retailers face a wider omnichannel mix.

France’s manufacturing business climate rose four points to 105 in October 2026, moving further above its long-term average of 100.Global and foreign order books strengthened; foreign orders were the highest since April 2022 and transport equipment rose to 111.Supply-side obstacles stayed high at 31 per cent, while machinery and equipment improved to 107.

Canada's Gildan Activewear has completed the sale of HanesBrands Australia to BBFIT Investments for approximately Au$700 million ($490 million) in cash.The company plans to use the net proceeds to repay outstanding debt.The divestment supports Gildan's ongoing integration strategy, with a focus on operational priorities, capturing synergies and strengthening its portfolio of brands.

India’s crude oil and LNG imports stayed firm in the first fiscal half as Brent climbed to $114 per barrel, raising costs across refining, fertilisers, city gas and petrochemicals.
Crude arrivals reached 22.26 million tonnes in September; April–August LNG volumes were about 7.5 per cent higher year on year.
With over 85 per cent crude import dependence, downstream margins remain exposed.

US consumer confidence fell in September as The Conference Board index dropped 6.7 points to 81.9 and conditions and expectations weakened.
Present Situation slid to 109.3 and Expectations fell for a third month to 63.6 as views on business, jobs and income worsened.
Inflation expectations rose to 6.1 per cent, interest-rate concerns increased and planned durables and services spending softened.

ICAR-CIRCOT, Mumbai, has signed an MoU with Trust ARS Rubber Private Limited, Chengalpattu, to transfer technology for protective gloves for cotton-picking workers.
The agreement is expected to support commercialisation and wider availability of the gloves.
The reusable gloves are designed to protect hands from sharp cotton bracts while retaining flexibility and comfort.

India’s Commerce and Industry Minister Piyush Goyal has concluded a two-day Germany visit, with Berlin talks focused on trade, investment, advanced manufacturing, research and emerging technologies.He met German Federal Chancellery adviser Levin Holle and leaders from Siemens Healthineers, Bertelsmann and Volkswagen.Indian delegates joined sectoral roundtables with German industry.

Brazil's finished apparel and home textile imports overtook textile materials in value during January–September 2026, marking a shift in import composition.
Combined imports of the three segments rose 11.2 per cent year on year to $5.283 billion, according to TexPro.
Apparel imports jumped 28.5 per cent to $2.321 billion, while materials slipped 0.3 per cent as fabric imports fell.

Euro area general government gross debt rose to 88.8 per cent of GDP at the end of Q2 2026 from 88.4 per cent in Q1, while the EU ratio increased to 82.9 per cent from 82.5 per cent.Year on year, the ratios also rose in both blocs, Eurostat data showed.Greece, Italy, France, Belgium and Spain had the highest debt-to-GDP ratios; debt securities made up over four-fifths of debt.

European Parliament trade committee MEPs will visit China on October 27-29 to discuss Beijing’s trade policy, its impact on European firms and jobs, and scope for dialogue.The delegation will visit Beijing, Hangzhou and Shanghai, raising concerns over raw-material dependence, excess capacity and market access.The EU’s deficit with China has recently reached €1 billion (~$1.12 billion) a day.

The British Retail Consortium has urged the government to cut business costs in next week’s Budget after inflation rose to 3.5 per cent.
The BRC said the figures set the April 2027 business rates uplift, leaving retailers facing £250 million (~$333 million) in extra bills.
It called for a rates freeze, saying lower costs would help retailers restrain price rises and invest in stores and jobs.

UK producer input prices rose 8.3 per cent year-on-year in September 2026, the largest increase since May, while factory gate prices rose 4.6 per cent, their biggest rise since April 2023.
On the month, input prices climbed 1.5 per cent and output prices 0.8 per cent, with oil-related products driving the increases.
Services producer prices rose 4.5 per cent year-on-year in the third quarter.

IEA said soaring tanker freight rates amid Middle East disruptions are increasing oil supply costs and threatening higher fuel prices for consumers.By mid-October 2026, shipping crude from the Middle East Gulf to Asia cost over $37 per barrel, more than five times pre-conflict levels.Higher shipping costs have squeezed Asian refinery margins, threatening fuel supplies and pushing prices higher.

Jefferies has named Ralph Lauren its top pick for the retail earnings season, expecting a beat and raise as North America and Asia lift sales.It raised Ralph Lauren’s second-quarter revenue view to 7 per cent constant-currency growth; Coach’s North America estimate was cut to 4.5 per cent.Capri is seen in line or slightly below Wall Street, with Michael Kors Americas improving and Europe soft.

Jordan's apparel exports rose 2.9 per cent year on year to JOD 1.029 billion (~$1.45 billion) in January–July 2026, data showed.
Knitted apparel drove growth, up 4.1 per cent and representing 98.2 per cent of clothing exports, while woven exports fell 37.6 per cent.
July clothing exports grew 8.5 per cent, helping the sector outperform national exports; apparel imports rose 4.7 per cent.

Puma SE has appointed Arne Arens, 55, as chief commercial officer and a management board member from November 15, 2026, responsible for its global commercial organisation, marketplace strategy and sales across all channels and markets.
The former Unspun CEO brings more than 25 years of international leadership experience, including senior roles at Nike, The North Face and Boardriders.

The European Commission has positively assessed Germany’s fourth and final €6 billion (~$6.7 billion) payment request under the Recovery and Resilience Facility.
Germany has completed all reforms and investments in its €30.3 billion (~$34 billion) plan, including 8 milestones and 19 targets across transport, energy, housing, healthcare and administration.
EFC review is next.

Euro area and EU government deficit ratios were unchanged in 2025, at 3.0 per cent and 3.1 per cent of GDP respectively, Eurostat said.
Debt-to-GDP rose to 87.7 per cent in the euro area and 81.5 per cent in the EU at the end of 2025.
Romania and Poland posted the highest deficits, while Greece and Italy recorded the largest debt ratios among Member States.

Gucci is shifting to everyday essentials with GucciCore, due in November, to widen appeal as weak China traffic weighs on recovery.
Kering said Gucci’s third-quarter revenue fell 4 per cent to €1,291 million; group revenue fell 1 per cent on a comparable basis.
Conversion improved, but directly operated retail sales fell 9 per cent, while Kering has completed 105 net store closures.

Alexium International has appointed Randall Lane as chief operating officer, Bruce Dixon as Dayton plant manager, Leia Herring as human resources manager and Scott Adams as senior chemist, bolstering operations, manufacturing, HR and R&D.
They follow Microtek Laboratories' acquisition and integration, expanding US manufacturing and Alexium's thermal-management platform.

India and Poland have targeted doubling bilateral trade by 2030 during Polish Prime Minister Donald Tusk’s October 21-23 official visit to India.Tusk travelled with around 100 CEOs and industry representatives, and both sides welcomed an India-Poland Business Forum.Leaders sought early signing and implementation of the EU-India FTA to unlock trade, investment and stronger value chains.

Fashion retailers lose margin when returned garments sit in transit, inspection or storage and miss their full-price selling window.
Experts say recovery economics should weigh handling, repackaging, repair, redistribution and markdowns against likely resale value.
Local hubs, faster grading and clear ownership of recovery value can return saleable goods to stock sooner and cut liquidation.

Crude oil is back above $110, raising cost questions for chemical and textile buyers as the Houthi-Saudi confrontation escalates.
Brent rose 16 per cent in October to $113.5 a barrel on October 23, while WTI gained 9 per cent to $100.
Naphtha and olefins are firming, but MEG has fallen by up to 5.6 per cent, temporarily cushioning polyester producers.