Hong Kong's Li-Ning goods (CNN Business) are being held by U.S. authorities after US Customs and Border Protection said an investigation indicated that the Chinese sportswear giant uses North Korean labor in its supply chain.
Russia's inflation rate exceeds its annual target in two weeks. Prices have risen at their fastest rate in more than two decades since Moscow invaded Ukraine. [Russia's Inflation Rate Surpasses Annual Target in Two Weeks – The Moscow Times]. Gap stops deliveries to Russia
The Footwear Distributors and Retailers of America, FDRA, sent a letter to President Biden asking him to eliminate shoe tariffs until the fall to directly reduce the price increase that is affecting working-class families.
GD Ramani, President of Agra Shoe Factories Association, said the association of 5000 traders in the city feel that GST increase on shoes from 5 to 12 per cent has broken the backbone of the industry. [UP Polls: Agra shoe business down by 70 per cent but traders to vote for nationalism pitch – The New Indian Express]
A top footwear manufacturer is setting up a shoe industrial park, the first of its kind in Bangladesh, to supply import substitute raw materials and accessories to producers, boost exports and attract foreign investment. [First industrial park for shoes shaping up – The Daily Star]. The industrial zone sits on 35 acres of land that could house 24 factories.
Alberto Fernández seals the adhesion to the Chinese Silk Road and promises agreements for 23,700 million dollars. This was announced by the Argentine Government. [Alberto Fernández selló la adhesión a la Ruta de la Seda china y prometen acuerdos por U$S 23.700 millones – Clarin]. However, the government imposes measures to curb imports from China: each pair of shoes cannot enter the country for less than 15.70 USD, to encourage investment with local producers.
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