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 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 exporter of textile products in the world. Exports of all textile products were nearly $18.3 billion in 2014. Total textile and apparel exports were a record $24.4 billion in 2014. Nearly two-thirds of U.S. textile exports during 2014 went to our Western Hemisphere free trade partners. The U.S. textile industry exported to 199 countries, with 25 countries buying $100 million or more a year.
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.