Home / Knowledge / News / Association / Combating China more vital than Peru FTA - AMTAC

Combating China more vital than Peru FTA - AMTAC

Nov '07
The American Manufacturing Trade Action Coalition (AMTAC) expressed disappointment over the fact that the U.S. House of Representatives has spent 2007 focusing on a flawed Peru Free Trade Agreement (FTA), which passed by a vote of 285 to 132, instead of passing strong legislation to combat trade cheats like China.

Noting that the United States has lost more than 3.1 million manufacturing jobs since 2001 and is projected to run a trade deficit with China in excess of $265 billion in 2007, AMTAC Executive Director Auggie Tantillo said, “The Peru FTA simply is a continuation of the flawed trade policy model of trade deficits, offshoring and job losses.

The House spending the entire year focusing on an unpopular Peru FTA instead of passing a strong anti-currency manipulation bill is an enormous disappointment to U.S. manufacturers desperate for relief from China's predatory trade practices."

"The illegal currency subsidies given by China to its manufacturing exporters dwarf the $9 billion in trade covered by the proposed Peru FTA. Rather than focusing on real trade problems, the House instead passed an FTA with a country that only could afford to buy 0.28 percent of U.S. exports in 2006,” Tantillo continued.

For example, China's currency has been estimated by many experts to be undervalued by anywhere from 15 to 40, to as much as even 75 percent (if purchasing power parity (PPP numbers are used). China exported $280,763,966,000 in manufactured goods to the United States in 2006. If China's currency were found to be undervalued by 36 percent, the subsidy to China's manufacturing exporters would total more than $101 billion.

“Clearly, a key message from the last election – stop offshoring good middle-class U.S. manufacturing jobs – still has not registered with the new leadership in this Congress. Like the congressional leadership from the party fired by the voters last November, they obviously believe that passing more job-killing FTAs, like Peru, is more important than stopping China from cheating,” Tantillo charged.

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Retailers need to show true partnership with supply chains

The ongoing Covid-19 crisis has thrown up an unprecedented challenge...

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Brands & Suppliers: Caught in a bind

Brands and retailers are in a bind: they have to deal with store...

Pic: Shutterstock

Apparel/Garments | On 8th Apr 2020

Pak garment units exempted from lockdown, start production

Pakistan’s garment industry has started production following a...

Interviews View All

Manuj Terapanthi, Texaura

Manuj Terapanthi

Transparent supply chain and fair trade will boost sustainable market

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Matthias Eilert,

Matthias Eilert

Germany-based Forbo Movement Systems division is a global leader in...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Pierre Wiertz, EDANA

Pierre Wiertz

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

Eric Scholler, Groz-Beckert

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Aneeth Arora, Péro

Aneeth Arora

The Woolmark Company has partnered with handmade fashion label Péro and...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

April 2020

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

Advanced Search