US and European textile groups meet for trade talks
29/05/2014
The presentation highlighted US textile industry positions, such as a ‘yarn forward’ rule of origin, and the preservation of US government procurement regulations such as the Berry Amendment [for military wear]. ‘Yarn forward’ means the yarn and not just textile manufacture should take place in the country for export duties to apply.
NCTO also staff met with its EU counterpart, the European Apparel and Textile Confederation (EURATEX) to work out the potential to reach a joint textile industry position on specific TTIP issues.
“The effort to establish a comprehensive free trade agreement between the United States and the European Union marks the first time US manufacturers and exporters may be able to enjoy FTA access to an overseas market that rivals our own,” said Augustine Tantillo, CEO of NCTO. “We look forward to a productive and collaborative relationship with EURATEX and other European industry groups in hopes of reaching mutually beneficial positions under the TTIP.”
TTIP is an effort to establish a free trade bloc between the US and the 28 member nations of the European Union. While the US and EU textile and apparel markets may be similar in market size and cost structure, the US trade deficit with the EU in those products totalled almost $3 billion in 2013.
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