The American Apparel & Footwear Association (AAFA) has underlined the importance of the Caribbean Basin Trade Partnership Act (CBTPA) after President Donald Trump extended the trade pact for another ten years this weekend.
Trump signed the ‘Extension of the Caribbean Basin Economic Recovery Act’ into law on Saturday (10 October), extending the programme to 30 September 2030.
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The CBTPA provides textile and apparel trade preferences to Caribbean countries. It predominately supports trade with Haiti, with 30% of Haitian exports to the US coming under the trade pact. At the same time, the programme supports US textile jobs due to the requirement that apparel imports to the US utilise US-made yarns and fabrics.
It expired on 30 September, prompting the AAFA to urge Trump to sign the Extension of the Caribbean Basin Economic Recovery Act into law as a matter of urgency.
“The CBTPA is an essential programme that supports trade with Haiti and supports thousands of American and Haitian jobs in the textile and apparel sector. By extending the programme for ten years, the Trump administration has provided the industry with certainty to promote growth in the region and secure these jobs,” said AAFA president and CEO Steve Lamar. “We are thankful to all of the champions in Congress who supported this bill and pushed it over the finish line.”
CBTPA has strong support in the apparel industry, said the AAFA, which has been calling for the extension of the programme for some time, including letters to Congress in April and US Trade Representative Robert Lighthizer in August.
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By GlobalData
