Senators introduce textile relief measure

28/05/2009

US senators Dianne Feinstein and Kit Bond have introduced a measure to provide trade relief for apparel and textiles imported from 14 of the world’s poorest nations. The legislation is intended to help these nations sustain vital export industries and promote economic growth and political stability.

The bill would provide duty-free status to textiles and apparel imported from
Afghanistan, Bangladesh, Bhutan, Cambodia, Kiribati, Laos, Maldives, Nepal, Samoa, Sri Lanka Solomon Islands, East Timor, Tuvalu, Vanuatu and Yemen.

These nations are not covered by any current US trade preference programme and currently face some of the steepest US import tariffs.

According to the two senators, the impact of this bill on the
US would be minimal. The beneficiary countries account for just 4% of the US
textile and apparel market.

“This legislation would help to create more jobs, raise living standards, and promote economic and political stability in some of the world’s poorest countries,” senator Feinstein said. “Currently, these 14 nations face some of the highest
US
tariffs in the world, averaging over 15%. This bill would help correct this trade inequality and help promote greater economic opportunity where it is most needed – at little cost to US manufacturers.”