National Cotton Council Says USMCA Offers Stability in Key MarketsWed, 29 Jan 2020 11:43:15 CST
The National Cotton Council (NCC) applauded President Trumpís signing today of the Congressionally-approved U.S.-Mexico-Canada Agreement (USMCA).
NCC Chairman Mike Tate said this trade agreement will provide a boost in trade certainty for U.S. cotton and cotton textile products in the North American market. He noted that Mexico is the second largest export market for U.S. cotton textile/apparel products and Canada is the fourth largest for these goods. Mexico also is a top market for U.S. raw cotton.
The Alabama cotton producer said the USMCA, which updates and modifies the North American Free Trade Agreement, includes a textile chapter that offers significant improvements for domestic textile manufacturers and workers. Among those provisions are: a stronger rule of origin for certain regional textile products; strong customs enforcement language; and ensuring that a significant amount that the Department of Homeland Security spends annually on clothing and textiles is on domestically-produced products.
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