Home / Knowledge / News / Textiles / TPP may hit roadblock
TPP may hit roadblock
Oct '16
The 12-member Trans-Pacific Partnership (TPP) that was signed earlier this year may not come into effect in its present form. Both the US presidential candidates—frontrunner, Democrat presidential nominee Hillary Clinton and Republican candidate Donald Trump—are opposing the treaty in its current form stating that it is against the US trade interests.
Clinton is against the implementation of the pact since contesting for the polls, while Trump has consistently condemned the ratification of the treaty in his poll campaign.
Unless both of them revoke their decision of not supporting the agreement, Vietnam which stands to gain enormously from the trade deal that spans 40 percent of the world's economy will incur heavy losses. 
“My message to every worker in Michigan and across America is this: I will stop any trade deal that kills jobs or holds down wages, including the Trans-Pacific Partnership,” said Clinton during a campaign in Warren recently. She categorically said, “I oppose it now, I'll oppose it after the election, and I'll oppose it as president.” 
Likewise, Trump has also taken a stance against the agreement. Reportedly, Trump who has been against the implementation of the treaty vouches to remove the US from the TPP membership if he wins the presidential polls. In a public address in Pennsylvania, Trump said, “The TPP would be the death blow for American manufacturing... It would further open our markets to aggressive currency cheaters.”
Going by the statements of presidential nominees, it seems very likely that TPP will at least be revisited or reworked, if not altogether scrapped, after the new president takes over early next year. This will have a drastic effect on the textile and clothing sector of Vietnam, which expects duty on its exports to the US to reduce to zero from the current 17 per cent. (RR)

Fibre2Fashion News Desk – India

Must ReadView All


Textiles | On 22nd Oct 2020

Trade rebounds marginally in Q3, stays negative: UNCTAD

The United Nations Conference on Trade and Trade and Development...

Pic: Shutterstock

Apparel/Garments | On 22nd Oct 2020

APAC garment units suffer as COVID hits supply chain: ILO

The COVID-19 crisis has badly hit the garment sector in the...

Pic: Shutterstock

Textiles | On 22nd Oct 2020

RCEP pact likely to be signed at 4th RCEP Summit in Nov

The Regional Comprehensive Economic Partnership (RCEP) is likely to...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Opportunity now to reimagine processes & systems in a digital environment

Nuno Venda, ROQ

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

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

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

October 2020

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

Advanced Search