Home / Knowledge / News / Apparel/Garments / Analysts see challenges for Asian suppliers under USMCA

Analysts see challenges for Asian suppliers under USMCA

10
Oct '18
Asian manufacturers may find it tougher to sell in American markets under the United States-Mexico-Canada Agreement (USMCA) and may face long-term isolation in key industries, say some Asian analysts. Tighter country of origin rules and labour standards for the car and garment sector mean production could shift back to North America, affecting Asian businesses.

The new agreement announced recently includes tougher regulations that say raw materials used in garment manufacturing like sewing thread must be sourced from suppliers in one of the three signatory countries.

If supply chains shift towards North America, it will be harder for countries elsewhere to break into the North American market, a top Hong Kong-based English-language daily quoted Henry Gao, professor of trade policy at Singapore Management University, as saying.

The rules may limit Vietnamese firms’ ability to fill demand for inputs in the textile sector, says Maxfield Brown, head of Dezan Shira’s business intelligence unit for the Association of Southeast Asian Nations (ASEAN).

Vietnam exported about $60 million worth of sewing thread, pocketing fabric, narrow elastic bands and coated fabric to the three North American countries, according to Dezan Shira & Associates, a pan-Asia, multi-disciplinary professional services firm, providing legal, tax and operational advisory to international corporate investors.

China might also be affected by conditions that prevent USMCA members from signing deals with ‘non-market economy’ countries. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Businesswire/PrimaLoft

Textiles | On 18th Nov 2018

PrimaLoft unveils PrimaLoft Bio Performance Fabric

PrimaLoft, a leader in advanced material technology, has unveiled...

Higher sales and earnings at Macy's in Q3FY18

Fashion | On 18th Nov 2018

Higher sales and earnings at Macy's in Q3FY18

Higher sales and earnings were recorded at Macy’s, one of the premier ...

Courtesy: Amazon

Apparel/Garments | On 18th Nov 2018

Amazon's new headquarters in New York City, Arlington

Amazon is setting up two new headquarters, one in New York City and...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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


November 2018

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

news category


Related Categories:

Advanced Search