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July 13, a senior German politician said on Sunday that the European Union and Washington may further negotiate to postpone raising import tariffs after U.S. President Trump threatened to raise tariffs on the European Union, escalating the trade war. "The negotiation poker game between the EU and the United States is entering a decisive stage," said Jurgen Hart, deputy leader of the conservative CDU/CSU party in the German Bundestag. "I bet that at least a partial agreement will be reached before August 1 and further postponed. After all, high tariffs have to be paid by American citizens and companies, which will lead to higher prices and inflation in the United States." Hart said Europe must dissuade Trump from "mistaking" the U.S. trade deficit for the EUs protectionist measures. He said the U.S. has a surplus in services due to the dominance of the IT industry, which largely offsets the trade deficit.July 13, European Commission President Ursula von der Leyen said on Sunday that a political agreement had been reached on advancing the EU-Indonesia free trade agreement. "There is still a lot of untapped potential in our trade relations, so this agreement comes at the right time and the new agreement will open up new markets," von der Leyen said at a press conference with the Indonesian president.July 13th, the UK plans to introduce new incentives to reduce the cost of people buying new electric cars. The British Labour government is trying to phase out the sale of heavily polluting cars. On Sunday, British Transport Secretary Heidi Alexander confirmed that she will announce new measures to promote electric vehicle sales this week. She said: "We will provide cheaper prices for those who want to switch to electric vehicles." As part of these efforts, her office announced on Sunday that it plans to invest 63 million pounds to build charging piles in homes and logistics warehouses across the UK, including providing charging pile funds for homes without driveways. Her department also outlined a 2.5 billion pound plan to support automakers in their transition to zero-emission vehicle manufacturing.Iraqs State Oil Marketing Organization SOMO: Iraq set the official selling price of Basra Medium crude oil for sales to North and South America in August at a discount of $1.15 per barrel to Argus sour crude oil.Musks xAI company requires employees to install monitoring software on their personal laptops, Business Insider reported.

Primark Increases Its Sustainable Cotton Initiative

Haiden Holmes

May 06, 2022 09:39

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Primark, one of Europe's largest fast fashion companies, has committed to training an extra 125,000 smallholder cotton farmers in India, Pakistan, and Bangladesh in more sustainable agricultural practices by the end of 2023.


The group's sustainable cotton program educates farmers on the need of using fewer chemical pesticides and fertilizers and less water, protecting biodiversity and aiding in climate change mitigation. Additionally, the organization claims that it reduces input costs and increases yields and revenues for farmers.


Primark, which is owned by London-listed Associated British Foods (OTC:ASBFY), said on Friday that the pledge would bring the program's total farmer enrollment to over 275,000 by the end of next year.


Primark pledged in September to reduce its environmental impact by increasing the use of recyclable materials, enhancing the durability of garments, and increasing worker salaries.


By 2027, it committed to sourcing 100 percent of the cotton in its clothing from its sustainable cotton program, organic cotton, or recycled cotton. Additionally, it committed to manufacturing all of its goods by 2030 using recycled fibers or more sustainably derived resources.


Primark now makes over 40% of their apparel from recycled fibers or more ecologically produced materials.


Environmental protesters have singled out the fashion sector for its excessive use of water and chemicals, putting pressure on big companies to alter supply chains and address a culture that has resulted in millions of products ending up in waste.


Many environmental protesters are skeptical of brand green commitments, saying they are motivated by a desire for positive public relations and that the business needed a broader cultural shift instead. Primark asserts that its sheer scale enables them to make a difference.


Primark said last month that it will increase certain prices to combat inflationary pressures.