The Textile Industry's Big Gamble: Will New Incentives Pay Off?
The National Council of Textile Organizations (NCTO), the American Apparel & Footwear Association (AAFA), and other industry groups have submitted a joint proposal to the Office of the United States Trade Representative (USTR) for a new incentive programme aimed at boosting domestic manufacturing, exports, and investment.
This move is striking because these groups usually don't see eye to eye on trade policy, and they're essentially asking the USTR to put its money where their mouths are by promising tariff credits to brands and retailers who purchase US textiles and apparel goods from partner countries in the Western Hemisphere.