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NCTO urges stronger USMCA rules, customs enforcement ahead of 2026 review
Yahoo Finance· 2025-11-06 11:50
Core Points - NCTO emphasizes the need for measures to protect the Western Hemisphere co-production chain and improve customs enforcement to safeguard domestic jobs and supply chains [1] - The organization advocates for exemptions from IEEPA tariffs for USMCA-qualifying trade and CAFTA-DR trade, which are currently affected by these tariffs [2] - The US textile sector's exports to Mexico and Canada reached $12.3 billion, accounting for 53% of total global exports, making these countries the largest markets for US textile producers [2] - The two-way trade facilitated by USMCA contributes $20 billion to domestic investment and employment [3] - NCTO supports the Trump administration's efforts to combat predatory trade practices and seeks a balanced trade environment for US textile manufacturers [3] Focus Areas for USMCA Improvement - NCTO aims to preserve and strengthen the yarn-forward rule of origin by limiting harmful exceptions that weaken regional supply chains [4] - The organization calls for enhanced customs enforcement cooperation, including trade data reviews and the creation of a public blacklist for repeat offenders [5] Employment and Shipment Data - The US textile supply chain employed 471,046 workers in 2024, with shipments in textiles and apparel reaching $63.9 billion and exports valued at $28 billion [6]