Home / Knowledge / News / Apparel/Garments / Actions of Ways & Means Committee on China Currency falls short in eyes of AAFA

Actions of Ways & Means Committee on China Currency falls short in eyes of AAFA

25
Sep '10
American Apparel & Footwear Association (AAFA) President and CEO Kevin M. Burke released the following statement after the House Ways and Means Committee voted to approve the Currency Reform and Fair Trade Act (H.R. 2378).

“We regret the actions of the House Ways and Means Committee on this critical issue. In this time of economic challenge for American families and American companies, the bottom line is that this bill would not create any jobs here in the United States and does nothing to force China to revalue its currency.

“If this bill moves forward, the only thing it will accomplish is to ignite a trade war between the United States and China at the cost of American jobs, including jobs in the U.S. apparel and footwear industry. As the fastest growing export market for U.S. manufacturers, U.S. farmers and U.S. brands, a trade war with China will prevent us from achieving the laudable goals of the National Export Initiative, and might even send us in the opposite direction.

“Focusing on currency does little to resolve the very real problems with China that would help create U.S. jobs. These issues include intellectually property rights enforcement and further market access for U.S.-made and U.S.-branded products in the Chinese market.

“We hope the House leadership and the full U.S House of Representatives will take these facts into account before moving forward on this ineffective and shortsighted piece of legislation.”

American Apparel & Footwear Association (AAFA)


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Aug 2021

US manufacturing activity grows in Jul; textile mills report fall: ISM

Economic activity in the US manufacturing sector grew in July, with...

Pic: Shutterstock

Textiles | On 5th Aug 2021

UK inflation to hit 3.9% in early 2022, 2% in 2023, predicts NIESR

UK consumer price inflation will reach 3.9 per cent early next year,...

Pic: Shutterstock

Retail | On 5th Aug 2021

Walmart again ranked largest firm by revenue, Amazon 3rd: Fortune

Walmart has been again ranked the largest company in the world by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

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


July 2021

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


Advanced Search