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Fashion industry testifies at USMCA hearing in Washington DC

United States Fashion Industry Association (USFIA) President Julia K. Hughes testified during the Office of the U.S. Trade Representative’s hearing on impact of the U.S.-Mexico-Canada agreement (USMCA) on U.S. Economy, consumers, and fashion Industry.

Her testimony highlighted the importance of trade between the United States, Canada, and Mexico for the fashion industry, and the need for business continuity in this time of uncertainty in trade policy and expected cost increases. While USFIA is supportive of several key components of the new USMCA—particularly the maintenance of the Tariff Preference Levels (TPLs) and the elimination of the “visible linings” requirement for duty-free treatment—USFIA is nonetheless concerned about the continuation of the yarn-forward rule of origin and the addition of new regulatory requirements.

Hughes believes that the new regulations will make it more expensive and complicated for American brands and retailers to use the agreement. Therefore if US wishes to encourage companies to move their sourcing out of China, it should encourage them to do business with its closest neighbors.

 

 
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