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.
According to new U.S. government data, Vietnam’s textile and apparel exports to the U.S. have continued to surge in 2014. Vietnam’s apparel sector is also positioned to gain additional advantages under a proposed new free trade agreement that will bolster their ability to penetrate the U.S. market.