UK fashion association UKTF has welcomed a de-escalation of the long-running Airbus-Boeing dispute, as the US announced suspension of retaliatory tariffs on a range of UK goods, including swimwear and jumpers.

Simon Cotton, CEO of cashmere specialist Johnstons of Elgin, said: “We are delighted to see these additional tariffs suspended and hope this will lead to a permanent removal of the tariffs in time for our main shipping season, later in the year.

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