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Save Our Industries Act (Save) introduced in Senate
24 Jun '11
2 min read
A measure that would expand U.S. trade in Asia by allowing apparel manufactured in the Philippines with U.S. fabrics to enter the country duty free was introduced in the U.S. Senate, Senator Daniel K. Inouye (D-HI), Senator Daniel K. Akaka (D-HI) and Senator Roy Blunt (R-MO) announced .
The Save Our Industries Act (SAVE) has the potential to create upwards of 2,000 jobs in the U.S. fabric mill sector while spurring an incentivized export market for the U.S. textile industry. With almost 99 percent of the U.S. apparel market now served by imports, U.S. textile manufacturers are reliant on export markets for their survival.
“The Philippines has been an important partner in the Asia Pacific region since the Spanish-American War. Our close partnership deserves to be mutually rewarding on an economic level,” said Senator Inouye. “The SAVE Act would represent the first trade initiative with the Philippines in nearly four decades. Unlike other countries in the region, the United States and the Philippines share a balanced trade relationship and this measure would continue to build on this relationship and bolster our economic ties by helping both countries reestablish competitive textile industries.”
“The SAVE Act underscores the strong bond between the United States and the Philippines, supporting thousands of jobs, increasing trade, and strengthening our longtime alliance for mutual benefit,” said Senator Akaka.
“Economic partnerships like this are an important way to both build on international relationships and provide relief for consumers at home,” said Blunt. “The Philippines is a close and long-standing ally, and I'm pleased to join my friend Senator Inouye as we work to build on this important partnership.”
The bill is also co-sponsored by Senator Harry Reid (D-NV).
The SAVE Act is patterned after the Dominican Republic – Central America Free Trade Agreement, or CAFTA, which permits tariff-free import of apparel assembled in those countries in return for using cotton and manmade fiber fabrics still made in the United States.
The SAVE Act will provide our textile companies with a new opportunity to export fabrics into the Asia Pacific market.
U.S. Customs and Border Patrol (CBP) conducted an informal technical review of the SAVE bill and, with their recommendations included, CBP concluded that the SAVE Act can be administered and enforced.
The Philippine Department of Trade and Industry then reviewed and agreed to all customs enforcement provisions.
The Save Our Industries Act (SAVE) has the potential to create upwards of 2,000 jobs in the U.S. fabric mill sector while spurring an incentivized export market for the U.S. textile industry. With almost 99 percent of the U.S. apparel market now served by imports, U.S. textile manufacturers are reliant on export markets for their survival.
“The Philippines has been an important partner in the Asia Pacific region since the Spanish-American War. Our close partnership deserves to be mutually rewarding on an economic level,” said Senator Inouye. “The SAVE Act would represent the first trade initiative with the Philippines in nearly four decades. Unlike other countries in the region, the United States and the Philippines share a balanced trade relationship and this measure would continue to build on this relationship and bolster our economic ties by helping both countries reestablish competitive textile industries.”
“The SAVE Act underscores the strong bond between the United States and the Philippines, supporting thousands of jobs, increasing trade, and strengthening our longtime alliance for mutual benefit,” said Senator Akaka.
“Economic partnerships like this are an important way to both build on international relationships and provide relief for consumers at home,” said Blunt. “The Philippines is a close and long-standing ally, and I'm pleased to join my friend Senator Inouye as we work to build on this important partnership.”
The bill is also co-sponsored by Senator Harry Reid (D-NV).
The SAVE Act is patterned after the Dominican Republic – Central America Free Trade Agreement, or CAFTA, which permits tariff-free import of apparel assembled in those countries in return for using cotton and manmade fiber fabrics still made in the United States.
The SAVE Act will provide our textile companies with a new opportunity to export fabrics into the Asia Pacific market.
U.S. Customs and Border Patrol (CBP) conducted an informal technical review of the SAVE bill and, with their recommendations included, CBP concluded that the SAVE Act can be administered and enforced.
The Philippine Department of Trade and Industry then reviewed and agreed to all customs enforcement provisions.
Senator Daniel K. Inouye
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