NCTO Comments on Signing of Phase One Deal on 301 Tariffs
The organization is eager "to see a new era of sound trade principles and balanced trade."
WASHINGTON-The National Council of Textile Organizations (NCTO), a voice for the textile industry, releases a statement regarding the Phase One Deal on 301 tariffs signed on Jan. 15 by the U.S. and China.
“While we are still studying the details of the deal signed today, we applaud the administration for finally pressing China for a more rational and equal trade relationship,” NCTO president and CEO Kim Glas says.
She adds that China’s “predatory practices” have damaged the textile industry over the last 30 years, and the organization is eager “to see a new era of sound trade principles and balanced trade.”
“At the same time, we question the last-in, first-out approach to the tariff reductions,” adds Glas. “In our sector, this means that the penalty 301 tariffs on finished apparel and sewn products-the areas where tariffs have the most potential to effect reforms in China while bolstering the Western Hemisphere supply chain-are cut in half while U.S. manufacturers continue to face full tariffs on certain inputs and equipment not available domestically.”
For more information on NCTO’s position on Section 301 China tariffs, check out:
