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USMCA offers stability for US cotton in key markets: NCC

30
Jan '20
Pic: Shutterstock
Pic: Shutterstock
The National Cotton Council (NCC) has applauded President Trump’s signing of the Congressionally-approved US-Mexico-Canada Agreement (USMCA). NCC chairman Mike Tate said USMCA will provide a boost in trade certainty for US cotton and cotton textile products in the North American market. USMCA updates and modifies the North American Free Trade Agreement.

Mexico is the second largest export market for US cotton textile/apparel products, while Canada is the fourth largest for these goods. Mexico is also a top market for US raw cotton.

Tate, an Alabama cotton producer, said the USMCA includes a textile chapter that offers significant improvements for domestic textile manufacturers and workers. Those provisions include: a stronger rule of origin for certain regional textile products, strong customs enforcement language, and assurance that a significant amount that the department of homeland security spends annually on clothing and textiles is on domestically-produced products.

“The USMCA is the largest, fairest, most balanced, and modern trade agreement ever achieved. There’s never been anything like it,” Trump said at the signing ceremony.

Fibre2Fashion News Desk (RKS)


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