Today in international trade, we have the biggest takeaways from the Chartered Institute of Export & International Trade’s panel at the Conservative Party’s conference.
There’s also new tariff implementation dates from US president Doanld Trump, amid a boost in cheap Chinese clothing imports into the EU.
Conference takeaways
What does life look like after the fall of the rules-based trading order and where should the UK be looking to strengthen trade ties: those were the discussion points from yesterday’s Chartered Institute panel at the Conservative’s conference, hosted with This is Purpose.
Amid the rise of protectionism and decline of rules-based trade, the UK can still find ways to engage globally, said Chartered Institute director general Marco Forgione.
He suggested the UK adopt “economic nationalism” and “economic patriotism”; protecting critical UK industries, like steel, while maximising existing means of international trade and cooperation
Forgione cited the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – a global trading bloc of 11 nations that the UK joined in 2023 – as an example.
Shadow foreign minister, Wendy Morton, also spoke of the value of the CPTPP. On trade she also added that fragile global supply chains, a problem exposed during the Covid-19 pandemic, had not yet sufficiently been fixed.
Pivoting further afield, the panel discussed the risks posed by China, with Conservative MP, Martin Vickers, advocating for a “cautious but pragmatic” approach towards the nation. Forgione added that a closer relationship with the EU would enhance UK protections on security.
On the topic of risk, ETK Group founder Bolaji Sofoluwe noted that UK businesses have a tendency to perceive African nations as high-risk trade partners, overlooking opportunities.
Sofoluwe suggested the UK should be looking to Africa, not least as China is already forming strong partnerships across the continent.
Trump tariff update
After pledging to introduce 25% tariffs on medium and heavy truck imports in a Truth Social message last month, Trump has announced the levy will come into effect on 1 November.
This update – also shared via his social media platform – was given the day before Canadian prime minister, Mark Carney, visited the White House. Canada is a major trading partner for the US and will be heavily impacted by any auto or vehicle tariffs Trump introduces.
Industry is placing hopes on the Carney visit to mitigate the impact, with the president of Business Council of Canada telling the FT:
“Hopefully the PM is able to get progress on some tariff relief. It would be a welcome step in the right direction.”
Clothing import surge
Elsewhere, Trump tariffs are still reshaping global supply chains. As China reduces its dependence on the US as an export market, the EU is becoming a preferred market for certain goods, including clothes.
The FT reports that EU imports of clothing and textiles increased 20% both in volume and value in the first half of 2025. This came from a roughly €2bn increase in cheap clothing sales.
The Trump’s administration removed its ‘de minimis’ threshold of US$800 – under which items are spared customs duties – has effectively neutered the business model of Chinese e-commerce clothing giant Shein.
However, the EU has been slower to act. Although the European Commission has proposed following suit and scrapping its own de minimis threshold, this has yet to be agreed and introduced.
Also in the news
- Trump’s protectionism hits Italian pasta brands, as 13 manufacturers now potentially face a total 107% tariff rate, if a threatened 92% come into force.
- Better news for Japanese beer as staple brand Asahi goes back into production following a cyber-attack
- Back in the doldrums with iconic UK carmaker Aston Martin, which downgraded its profit forecast for the second time in a year, blaming Trump’s tariffs
Yesterday in trade
- We looked ahead to the EU’s implementation of its Entry/Exit System (EES) at the end of this week
- EU steel quotas could be set to challenge UK industry more so than Trump’s tariffs
- A host of Chartered Institute expert-led webinars
You can read all about it here
