Subject: US Senators Introduce Legislation To Provide Trade Relief for Apparel and Textiles from 14 Least Developed Countries

http://blogs.customhouseguide.com/news/?p=3128 

Senators Introduce Legislation To Provide Trade Relief for Apparel and Textiles from 14 Least Developed Countries

June 1, 2009

U.S. Senators Dianne Feinstein (D-Calif.) and Kit Bond (R-Mo.) have introduced a measure to provide trade relief for apparel and textiles imported from 14 of the world's poorest nations. The legislation is intended to help some of the impoverished nations sustain vital export industries and promote economic growth and political stability.

Specifically, the bill would provide duty-free status to textiles and apparels imported from 14 least developed countries (LDCs), as defined by the <http://www.un.org/>United Nations and the <http://www.state.gov/>U.S. State Department. The impoverished nations are not covered by any current U.S. trade preference program and currently face some of the steepest U.S. import tariffs, averaging more than 15%.

The 14 beneficiary countries designated by the bill are Afghanistan, Bangladesh, Bhutan, Cambodia, East Timor, Kiribati, Laos, Maldives, Nepal, Samoa, Sri Lanka, the Solomon Islands, Tuvalu, Vanuatu, and Yemen. The impact on the United States is expected to be minimal, as these beneficiary countries account for only 4% of the U.S. textile and apparel market.

"This legislation would help to create more jobs, raise living standards, and promote economic and political stability in some of the world's poorest countries," said Feinstein. "The bill would help correct trade inequality and help promote greater economic opportunity where it is most needed, at little cost to U.S. manufacturers."


Back to June Menu
May
World Leaders Contact List
Main Postings Menu