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National Textile Association urges 'no' vote on Korea FTA
10
Oct '11
The National Textile Association (NTA) joins our colleagues at the American Fiber Manufacturers Association (AFMA), American Manufacturing Trade Action Coalition (AMTAC), National Council of Textile Organizations (NCTO), and United States Industrial Fabrics (USIFI) Institute in urging a "NO" on the U.S.-South Korea Free Trade Agreement ("KORUS"). The agreement was submitted to Congress on October 3, and a vote is expected in both the House and Senate on Wednesday, October 12.

The American Textile Industry strongly opposes KORUS for three main reasons:

The agreement is flawed in concept; the terms of the agreement are unfavorable to key industries such as textiles; and, the textile and apparel provisions in the agreement are unlikely to be adequately enforced.

These problems are why as many as an estimated 40,000 U.S. jobs are expected to be lost in the first seven years after implementation just as a result of textile concerns with the agreement.

If Congress is serious about creating jobs, passing trade-law enforcement measures like the stalled anti-currency manipulation legislation, strengthening our “buy American” laws, and eliminating trade distortions caused by foreign border-adjusted taxes should be targeted instead.

Click here to Read more details

National Textile Association


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