Applauding the US administration for finally pressing China for a more rational and equal trade relationship, the National Council of Textile Organisations (NCTO), a Washington, DC-based trade association that represents the full spectrum of domestic textile manufacturers, has questioned the last-in, first-out approach to the tariff reductions.
“In our sector, this means that the penalty 301 tariffs on finished apparel and sewn products–the areas where tariffs have the most potential to effect reforms in China while bolstering the Western Hemisphere supply chain–are cut in half while US manufacturers continue to face full tariffs on certain inputs and equipment not available domestically,” NCTO president and chief executive officer Kim Glas said in a statement.Applauding the US administration for finally pressing China for a more rational and equal trade relationship, the National Council of Textile Organisations (NCTO), a Washington, DC-based trade association that represents the full spectrum of domestic textile manufacturers, has questioned the last-in, first-out approach to the tariff reductions.#
Glas released the statement after the phase I deal on 301 tariffs was signed recently by the United States and China.
“Our industry has been severely damaged by China’s predatory practices over the past 30 years and we are anxious to see a new era of sound trade principles and balanced trade, Glas added.
Fibre2Fashion News Desk (DS)
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