Blog: Good morning Vietnam...or good night?
Leonie Barrie | 9 July 2003
But it’s not just manufacturers losing out under the pact, signed in April, which set quotas on 38 types of apparel and textile from Vietnam and capped exports to America at $1.7 billion in 2003. With lead times of several months, US retailers are less willing to risk tying up orders if there is no guarantee they will get their garments shipped. Ironically, though, the US domestic industry – which championed so hard for the restrictions in the first place – won’t benefit from Vietnam’s loss.
No, the orders will simply disperse elsewhere in South East Asia or wherever the best prices and quotas prevail.
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