Economic & trade review for textile industry by NCTO

12 Feb '07

4 min read

Thanks in part to this reinvigorated partnership and educational effort by NCTO, the three new free trade agreements concluded this year – Peru, Columbia and Panama – are the tightest free trade agreements ever negotiated for textiles and apparel.

Thanks also to the leadership of Senators Elizabeth Dole (R-NC) and Lindsey Graham (R-SC), the U.S. industry is no longer completely defenseless against imports of subsidized apparel from Vietnam. Senators Dole and Graham should be congratulated for their success in securing a new program by which the U.S. government will self-initiate dumping cases against Vietnam for textile and apparel products.

This is the first time in more than 20 years that the government has moved aggressively on dumping on behalf of a specific sector. And in a post quota world, this system represents a new and fresh approach to addressing the problem of dumped and subsidized apparel imports from countries that refuse to act responsibly and live by their commitments.

As we look ahead, the challenges confronting our industry will grow. With the expiration of the China safeguards in 2008, the implementation of a new trade preference program for Haiti and the push to conclude a Doha Round global trade agreement, our future challenges will be no less daunting than the ones we have confronted in the past.

Over the next year, NCTO is positioned to take advantage of significant opportunities as well. With a host of new “fair trade” voices in the 110th Congress, Chinese currency manipulation is going to be a major issue and NCTO, a founding member of the China Currency Coalition, will be diligently working with other sectors to see that a strong China bill is enacted. NCTO looks forward to working with the new Congress on fair trade proposals that ensure the future viability of the U.S. textile manufacturing sector.

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