Home / Knowledge / News / Fashion / USFIA hopes TPP will benefit fashion industry
USFIA hopes TPP will benefit fashion industry
06
Oct '15
The United States Fashion Industry Association (USFIA), one of the main supporters of the Trans-Pacific Partnership (TPP), has hailed the conclusion of the negotiations that formalized the creation of the world's largest trading bloc.

“The Trans-Pacific Partnership represents an important opportunity for American fashion brands, retailers, importers, and wholesalers, who are already doing significant business in several TPP partner countries,” said Julia K. Hughes, President of USFIA, according to a press release.

“The fashion industry has been eagerly awaiting the completion of this agreement and we look forward to seeing the final text to see how it can benefit our members. We remain hopeful that the TPP will indeed be a high-standard agreement that recognizes the 21st-century global value chain and economic contributions of these companies, which work hard to create high-quality jobs in the United States and affordable, high-quality apparel products for American families,” she concluded.

But the “yarn-forward” rule of origin could be a sticking point in TPP. The 2015 USFIA Fashion Industry Benchmarking Study, which was released in June, showed that USFIA members already source from five TPP partner countries: Vietnam, Peru, Mexico, Malaysia, and the US. Nearly 80 per cent of respondents said they expect the TPP to affect their business practices. However, the level of impact depends on the rules of origin and market access provisions; 83 per cent called for abandoning the strict “yarn-forward” rule of origin, and 45 per cent hoped the TPP short-supply list would be expanded.

“We understand the final agreement contains a yarn-forward rule of origin and limited short-supply list, though we remain hopeful it also will include many opportunities for fashion brands, retailers, importers, and wholesalers to expand their global businesses,” Hughes said.

The USFIA represents the fashion industry including textile.com'>textile and apparel brands, retailers, importers, and wholesalers based in the United States and doing business globally. It now works to eliminate the tariff and non-tariff barriers that impede the industry's ability to trade freely and create economic opportunities in the US and abroad. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Tim Savage from Pexels

Textiles | On 19th Jun 2018

Da Lat begins construction of $50mn wool yarn factory

Da Lat Worsted Spinning Limited Company has begun construction of a...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Mark Paterson
Technical Absorbents Ltd

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

Steve Cole
Xerium Technologies

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Robert Brunner
Devereux

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search