TPP’S YARN-FORWARD RULE A MIXED BLESSING FOR VIETNAM’S KNITWEAR MANUFACTURERS
June 8th, 2014
ACCORDING to conventional wisdom, Vietnam’s near-certain inclusion in the Trans-Pacific Partnership (TPP) will clearly be a major boon to the Southeast Asian country’s textile industry. The planned multinational free-trade zone encompasses 12 countries that together make up 40% of global gross national product (GNP). Furthermore, 60% of Vietnam’s garment exports currently go to TPP markets, including the all-important USA, where tariffs for Vietnamese garments would be reduced to zero from the current 17% to 18% under current drafts of the TPP.But things ...
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