Interviews
Duty-free LDC bill another China giveaway – AMTAC
19 Oct '07
3 min read
"It is tragic that Congress would ask U.S. factory workers to sacrifice their jobs in order to continue a flawed trade policy that produces sky-high, job-killing deficits,” Tantillo added.
Bangladesh and Cambodia, respectively, already are the second and eighth largest sources of U.S. apparel imports by volume and the sixth and eighth largest sources by value. China shipped nearly $2 billion in subsidized textile and apparel components to Bangladesh and Cambodia last year.
With approximately 40 percent of apparel exports from those countries going to the United States, an estimated $800 million in Chinese textile and apparel components were included in those exports.
That figure only will rise at the expense of U.S. producers if Bangladesh and Cambodia gain even more market share as a result of duty-free treatment.
“Bangladesh and Cambodia may be LDCs by per capita income, but they are global superpowers in terms of apparel exports. With exports so large in those products, tariff eliminations are unwarranted and will serve as just another giveaway of U.S. market share to China,” Tantillo concluded.
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Bangladesh and Cambodia, respectively, already are the second and eighth largest sources of U.S. apparel imports by volume and the sixth and eighth largest sources by value. China shipped nearly $2 billion in subsidized textile and apparel components to Bangladesh and Cambodia last year.
With approximately 40 percent of apparel exports from those countries going to the United States, an estimated $800 million in Chinese textile and apparel components were included in those exports.
That figure only will rise at the expense of U.S. producers if Bangladesh and Cambodia gain even more market share as a result of duty-free treatment.
“Bangladesh and Cambodia may be LDCs by per capita income, but they are global superpowers in terms of apparel exports. With exports so large in those products, tariff eliminations are unwarranted and will serve as just another giveaway of U.S. market share to China,” Tantillo concluded.
Click here to view more:
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