The United States, Mexico and Canada have concluded negotiations on a trade agreement to replace NAFTA. The text of the deal, referred to as the United States-Mexico-Canada Agreement, was released by the Office of the U.S. Trade Representative.
“The U.S. textile industry is pleased the United States, Mexico and Canada have reached an agreement because Canada and Mexico are its largest trading partners,” said National Council of Textile Organizations (NCTO) president and CEO Auggie Tantillo. He noted that products from the textile and apparel supply chain accounted for nearly $12 billion in U.S. exports to Canada and Mexico in 2017.
Tantillo also noted that the new agreement includes a separate chapter for textiles and apparel, which he sees as “recognition by all three parties of the importance of textile manufacturing to the regional economy.”
NCTO is a Washington, D.C.-based trade association that represents domestic textile manufacturers, including artificial and synthetic filament and fiber producers.