The much-awaited full text of the 12-nation Trans-Pacific Partnership agreement has been released, revealing that many tariffs on US exports of textiles and apparel to the other TPP markets will reduce to zero on day one, according to the text on the blog of the Office of the US Trade Representative.
While the TPP requires a “yarn forward” rule of origin to ensure that the benefits of the pact go to workers and businesses in the 12-member countries, the chapter on Textiles and Apparel includes a “short supply list,” which provides TPP partners with flexibilities in cases where the TPP members do not produce enough of a particular fabric or yarn to meet production needs.
The text also provides a special feature for Vietnam, linking improved access to the US market for cotton trousers to the purchase of US-made cotton fabric.
Click here to read the full text of Chapter 4: Textiles and Apparel
Source: Free Textile and Fashion Industry News RSS XML Feeds – Fibre2fashion