Blog: Leonie BarrieFollow the leader?

Leonie Barrie | 25 January 2005

The EU’s decision to fast-track its new GSP tariff system so that tsunami-hit countries such as Sri Lanka get improved access to EU markets shows how trade rather than aid can – and should – offer a lifeline to struggling economies. But is the US likely to follow the EU’s example? The EU buys around $1,035 billion worth of textile products from Sri Lanka whereas US imports are valued at $1,398 billion and carry tariffs averaging 30 per cent.

Despite calls from US apparel makers, non-governmental organisations and even an admission from the office of the US Trade Representative that several “trade initiatives” are under discussion, nothing has so far been forthcoming. The US textile lobbyists are up in arms, claiming their struggling industry will be damaged even further. But better tax treatment for countries like Sri Lanka will also hurt China – US textile makers’ great enemy – and provides a great opportunity for the real textile industry to show it's not a bunch of protectionists.


BLOG

Busana Apparel on an expansion drive

Busana Apparel Group, Indonesia's largest woven apparel exporter, is on a drive to expand its domestic capacity, has set up its first factory in Ethiopia, is exploring opportunities in Vietnam, and ey...

BLOG

Act now to keep receiving just-style newsletters

You may have noticed a red alert bar at the top of just-style’s weekly and daily newsletters asking you to “Act now to keep receiving the just-style newsletter.” ...

BLOG

Apparel imports into the US rose in June

Apparel imports into the US rose in June as merchants stocked up for summer and prepared for the back-to-school season, with imports from Vietnam continuing to surge....

BLOG

US retailers under pressure to grow sales as mall traffic slows

Under Armour is to close stores and cut jobs – around 2% of the company's global workforce – as part of new plans to build a stronger and smarter company with faster go-to-market speed and greater dig...

just-style homepage



Forgot your password?