ACCI welcomes textile tariff reductions
The Australian Chamber of Commerce and Industry (ACCI), the country’s largest business organisation, has welcomed new import tariff reductions which took effect on January 4.
Tariffs applying to textiles, clothing and footwear (TCF) goods have been cut substantially, with tariffs for clothing and finished textiles reduced from 17.5% to 10%, and tariffs for textiles and footwear reduced from 10% or 7.5% to 5%.
“These tariff cuts are good news for Australian businesses and consumers, and will help to stimulate domestic demand in the first part of 2010,” said the organisation. “Lower tariffs mean lower input prices for Australian businesses and of course lower prices for consumers. Sensibly timed tariff reform also provides a more sustainable basis for industry and employment. ACCI is a strong supporter of managed reductions in tariffs on manufactured goods as a driver for innovation, competition and productivity.”
