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Will Obama's trade policies support textile trade?
23
Feb '09
Mr Barack Obama
Mr Barack Obama
People hoping audaciously for a change felt their fulfillment when Barak Obama was elected as the 44th president of US. The coming years will be an unprecedented period for the textile and apparel industries of US.

Obama has proposed a detailed plan to get the sliding economy back in track by coming up with more employment generation, and middle-class tax cuts. This gives an option to think that textile and apparel industry would not be the prime focus for a limited time.

In a letter sent to the National Council of Textile Organizations, Obama has given a hint of his notion to change the economic policies observed in the country for the past eight years. He has proposed plans which would give priority to the needs of the middle income populace.

He has articulated his willingness to take actions to curtail the currency manipulation adopted by China, and bring regulations to limit the inflow of textile and apparel imports from China into the US market.

The new reign of Obama is positively expected by the people to bring the country in a good position to deal with the global trade regime.

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Fibre2fashion News Desk - India

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