Home / Knowledge / News / Apparel/Garments / CITA to apply 5% tariff on cotton socks from Honduras
CITA to apply 5% tariff on cotton socks from Honduras
05
May '08
The U.S. Committee for the Implementation of Textile Agreements (CITA) announced its decision to apply a textile safeguard on U.S. imports of cotton socks from Honduras. Pursuant to the provisions of the Central America-Dominican Republic-United States Free Trade Agreement (CAFTA-DR), the United States will apply a 5 percent tariff to U.S. imports of Honduran socks from July 1 to Dec. 31, 2008. In 2005, the last year before CAFTA-DR went into effect for Honduras, the average duty paid on cotton socks from Honduras was 4.4 percent.

“After an extensive investigation and careful consideration, the United States has decided to apply a safeguard measure on cotton socks from Honduras,” said Commerce Deputy Assistant Secretary of Textiles and Apparel Matt Priest. “I believe that this action will provide U.S. sock manufacturers an opportunity to adjust to increased import competition from our CAFTA-DR partners. The safeguard action expires at the same time as the current quota on Chinese cotton socks.”

“The United States has a long history of co-production with Honduras,” said Priest. “Approximately half of the cotton socks imported from Honduras were knit in the United States, primarily in Alabama and North Carolina, prior to finishing and packaging in Honduras. As our Hemisphere's textile and apparel industries become increasingly integrated, we need to stick together to face growing competition from Asia. That is why we decided that the safeguard on socks from Honduras will end at the same time as the quota on Chinese products.”

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search