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

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
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