The Trans-Pacific Partnership holds the potential to reshape trade flows in the textile and apparel sector to the greatest degree of any free trade agreement since NAFTA. Decisions made by the US government over the next few months will significantly impact markets and trade flows related to our industry.
As the U.S government aggressively moves toward concluding TPP negotiations, we will remain fully engaged on this critical issue. Check back here for updates.
The U.S. Textile Industry: Competing in the Global Market
The U.S. textile industry opposes trade agreements and initiatives that give countries that unfairly subsidize their export sectors more access to the U.S. market.
The U.S. textile industry is the third largest textile exporter in the world. Textile exports in 2013 totaled nearly $18 billion dollars. The industry exports to more than 60 countries, including 23 with export markets that purchase in excess of $100 million.
NCTO applauds both the Senate Finance Committee and the House Ways and Means Committee for reporting out a clean TPA bill – The Bipartisan Congressional Trade Priorities and Accountability Act of 2015. In addition, NCTO is appreciative that accompanying legislation did not include provisions damaging to domestic job growth, manufacturing, and the U.S. textile industry as a whole. NCTO encourages both the House and Senate to swiftly pass these bills without additional amendments that would adversely impact U.S. textile manufactures.