Home / Knowledge / News / Apparel/Garments / AAFA cautions Senate about pitfalls of House Currency Bill
AAFA cautions Senate about pitfalls of House Currency Bill
30
Sep '10
American Apparel & Footwear Association (AAFA) President and CEO Kevin M. Burke released the following statement after the U.S. House of Representatives voted 348 to 79 to approve the Currency Reform and Fair Trade Act (H.R. 2378).

“It is unfortunate that the House put political expediency above economic stability by voting to approve the Currency Reform and Fair Trade Act.

“As this bill moves to the Senate for consideration, the U.S. apparel and footwear industry will continue to warn about the perils this bill has for American workers and consumers.

“Action on this bill has already primed the United States and China for a widening trade war. The rhetoric associated with Congressional consideration of this legislation threatens American jobs, including jobs in the U.S. apparel and footwear industry, while doing nothing to require China to revalue its currency. Its implementation could put the United States out of compliance with its international trade obligations while subjecting American consumers to higher priced goods.

“The United States should work with the multilateral community to find long term solutions for currency misalignment, including persistent problems relating to China's undervalued currency. Likewise, we should focus our energy on constructively solving other very real problems that exist in our trade relationship, such as intellectual property rights enforcement and expanded market access, which also hinder job creation in the United States. Because China is the fastest growing export market for U.S. manufacturers, U.S. farmers, and U.S. brands, erecting additional trade barriers just stifles our competitiveness in the global market.”

American Apparel & Footwear Association (AAFA)

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search