US TEXTILE INDUSTRY WANTS ‘YARN FORWARD’ PROVISION IN PACIFIC TRADE DEAL
July 1st, 2011
BY MJ DESCHAMPS
THE UNITED States Trade Representative has proposed a 'yarn forward' rule within negotiations for Washington to join the Trans-Pacific Partnership (TPP) Agreement, to protect the US textile industry from Vietnam's state-subsidised textile enterprises. America and Vietnam want to join the TPP, currently including Brunei, Chile, New Zealand and Singapore. Under the proposal, yarns, fabrics and garments must be wholly made in a TPP country to receive trade benefits.
ENDS
THE UNITED States Trade Representative has proposed a 'yarn forward' rule within negotiations for Washington to join the Trans-Pacific Partnership (TPP) Agreement, to protect the US textile industry from Vietnam's state-subsidised textile enterprises. America and Vietnam want to join the TPP, currently including Brunei, Chile, New Zealand and Singapore. Under the proposal, yarns, fabrics and garments must be wholly made in a TPP country to receive trade benefits.
ENDS
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