Iran suspends cooperation with UN nuclear watchdog: strong reaction from the US
Iranian President Masoud Pezeshkian on Wednesday signed into law a bill passed by parliament last week to suspend cooperation with the UN nuclear watc...
In response to the recent imposition of substantial U.S tariffs on Chinese imports, several American companies are actively relocating their manufacturing operations to mitigate financial risks and maintain competitive pricing.
Fashion retailer Steve Madden has announced plans to reduce its reliance on Chinese manufacturing by approximately 40% to 45%. The company intends to diversify its production across countries such as Cambodia, Vietnam, Mexico, and Brazil.
CEO Edward Rosenfeld stated, "We have been planning for a potential scenario in which we would have to move goods out of China more quickly. As of yesterday morning, we are putting that plan into motion."
Joining the shift is Breville, the Australian-American kitchen appliance brand known for its high-end coffee machines and smart ovens. Though Breville had long relied on Chinese manufacturing for its precision products, the company recently confirmed it will relocate a substantial portion of its production to Malaysia and Mexico. Executives cited both the new tariffs and ongoing geopolitical uncertainty as key drivers of the decision. "Diversification is not optional anymore - it’s essential," a company spokesperson said.
In the technology sector, Apple is accelerating efforts to diversify its production. The company plans to increase iPhone manufacturing in India to mitigate potential price hikes resulting from the tariffs. Apple's short-term strategy involves shipping approximately 25 million iPhones from India in 2025, covering about 50% of U.S demand.
Additionally, Apple is expanding the manufacturing of other products like iPads and AirPods in Vietnam, which also faces tariffs.
Nintendo, another major brand caught in the crossfire, is also adjusting its operations. Though headquartered in Japan, Nintendo relies heavily on Chinese factories to assemble popular consoles like the Nintendo Switch.
In response to U.S trade policy changes, the company has expanded production capacity in Vietnam to ensure continued supply to North American markets without facing tariff-related cost increases. It has also delayed preorders from the U.S for the upcoming Switch 2, while it is reevaluating the impact of tariffs on production and pricing.
The fashion industry at large is experiencing significant challenges due to the tariffs. Major brands such as Nike, Gap, and Ralph Lauren have seen stock declines of up to 30%.
The National Retail Federation and the American Apparel and Footwear Association have expressed concerns over potential job losses and reduced consumer confidence. The industry is likening the severity of this crisis to the COVID-19 pandemic, highlighting the profound impact of the trade war.
These developments highlight a trend of U.S companies reevaluating and restructuring their global supply chains in response to evolving trade policies and economic pressures.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
The Pentagon says U.S. strikes on Iranian nuclear sites have degraded Tehran’s programme by as much as two years, following attacks last month that used heavy bunker-buster bombs.
A CIA review has identified procedural flaws in a 2016 assessment that Russia sought to help Donald Trump win the U.S. presidency, but it did not challenge the core conclusion that President Vladimir Putin directed the influence campaign.
Scientists have sequenced the full genome of a man buried in pharaonic Egypt over 4,500 years ago, revealing that about 20% of his ancestry came from Mesopotamia, in a rare discovery linking the two early civilisations.
Vietnam is set to confirm the purchase of 50 Boeing planes worth $8 billion, alongside agreements to import $2.9 billion in US agricultural products, as part of a wider trade deal. The announcement follows high-level talks between US and Vietnamese officials, signalling strengthened economic ties be
G7 foreign ministers urged Iran to urgently resume nuclear talks and full cooperation with the IAEA, condemning calls to arrest its director. The statement reaffirmed the commitment to prevent Iran from obtaining nuclear weapons and highlighted the need for regional stability.
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