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Govt to impose tariff on sock imports from Honduras

22
Jan '08
Cheap sock imports from Honduras have plagued the domestic US industry, for a long time now, and the Government seems to be considering several measures to resolve this issue.

US Commerce Department recently reached the decision, after conducting thorough investigation, that it will go ahead with a tariff on sock imports from Honduras.

Though the time-span and rate is yet to be determined, experts believe that it can go as high as 13.5 percent for three years on socks from the Central American country.

Sock imports from this small Central American country has risen drastically over the past couple of years and Canada's Gildan Activewear Inc, which is planning its second production unit in Honduras, is among the leading players.

However, analysts opine that this tariff will not have major impact on this hosiery giant.


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