There has been a change of guard in the United Kingdom with The Rt. Hon. Liz Truss, becoming the Prime Minister; direct impact of economic woes there, which resulted in the change in the party leadership. Soaring energy and consumer products’ costs coupled with reduction in the disposable incomes in the United Kingdom and EU will impact the global textile industry. Additionally, strengthening of U.S. dollar will increase the price of gasoline paid by importing nations, and will put pressure on the debt repayment by developing countries like Sri Lanka and Pakistan, which are major textile manufacturing countries.