WASHINGTON — November 5, 2015 — Today’s release of the Trans-Pacific Partnership (TPP) text allows NCTO to begin an exhaustive review of the details of the agreement. NCTO will immediately initiate a thorough analysis of the text to determine its impact on our members, the U.S. textile industry as a whole, and our Western Hemisphere trading partners.
Based on our generalized understanding of the final agreement reached last month, we believe that many of the U.S. textile industry’s key objectives have been met, including a yarn forward rule of origin for most products and reasonable duty phase-outs for sensitive textile and apparel items. While we need to thoroughly familiarize ourselves with the fine details of the agreement, we feel that the U.S. government was able to achieve a well-balanced outcome for all parties, including U.S. textile manufacturers and our partners in the Western Hemisphere. NCTO thanks Ambassador Michael Froman and the entire U.S. negotiating team for the consideration they gave NCTO’s input during the TPP process and we hope to complete our review of the agreement in the coming weeks.
Posted November 10, 2015