Fashion Intel & Analysis

Textile Development Memo for February 18, 2011

USA-ITA received the communication below regarding the impact of the situation in Egypt from Ahraf Ezzeldin of the Egyptian Embassy in Washington, D.C. Should you have any questions, Mr. Ezzeldin's contact information is included below. We will continue to keep you updated on any changes or further communications from Egypt.

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Textile Development Memo for February 9, 2011

A press conference is scheduled for February 10th to announce the introduction of the Currency Reform for Fair Trade Act of 2011. Supporters of action to force China to change their currency valuation include House Ways and Means Committee Ranking Member Sander Levin (D-MI), Jim McDermott (D-WA), and Senator Sherrod Brown (D-OH). 

We will share more details once the legislation is introduced.  

Textile Development Memo for February 4, 2011

By David Spooner, Squire Sanders & Dempsey

The Treasury Department this afternoon released the Semi-Annual Report to Congress on International Economic and Exchange Rate Policies that is required under Sections 3004 and 3005 of the Omnibus Trade and Competitiveness Act of 1988.  In its latest report, Treasury, again, resisted pressure from Members of Congress and certain manufacturing groups to cite China as a "currency manipulator", a step which would lead to formal consultations with China. 

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Textile Development Memo for February 7, 2011

In a Federal Register notice that will be published on Tuesday, USTR announces that Libera is now eligible for textile and apparel duty-free benefits under the African Growth and Opportunity Act (AGOA). This determination was based on Liberia's adoption of an "effective visa system and related procedures to prevent unlawful transshipment and the use of counterfeit documents in connection with shipment of textile and apparel articles" as well as progress implementing and following the customs procedures required under AGOA. Click here to read the full notice

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Textile Development Memo for February 3, 2011

USA-ITA joined over 100 companies and associations in signing a letter from the Business Coalition for the TPP to the National Export Council Director and Assistant to the President for Economic Policy Gene Sperling today in order to communicate the importance of achieving a high-standard and commercially meaningful TPP agreement in all key areas. "Achieving a strong TPP by November 2011 that eliminates barriers and opens markets can be achieved with strong U.S. leadership," saidChristopher Padilla, Co-Chair of the TPP Coalition and Vice-President of Governmental Programs with IBM. "The TPP Coalition looks forward to continue working with the Administration to achieve this important result." Click here for the final letter and click here for the TPP Negotiation Principles.