The Trans-Pacific Partnership: Understanding Benefits & Opportunities. SOURCING at MAGIC Las Vegas February 16, 2016

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1 The Trans-Pacific Partnership: Understanding Benefits & Opportunities SOURCING at MAGIC Las Vegas February 16, 2016

2 About the United States Fashion Industry Association (USFIA)

3 Our Mission The United States Fashion Industry Association (USFIA) is dedicated to the removal of barriers that impede the free movement of textile and apparel products to the United States and international markets. Our Work for the Industry Communication Education Advocacy

4 USFIA Members & Affiliates include Fashion brands, retailers, importers, and wholesalers Service providers, including customs brokers, freight forwarders, law firms, logistics providers, steamship lines, and testing and certification companies Manufacturers and suppliers of finished products and inputs Supplier associations, business councils, and promotional groups and agencies Academic institutions

5 USFIA benefits include Access to policymakers around the world whose decisions impact your business Access to seminars, conferences, and training sessions to help you and your employees do business more efficiently Exclusive, members-only publications on the latest trade and customs news Opportunities to meet industry leaders, peers, and potential business leads Strong network of industry experts across the supply chain to provide guidance on every aspect of your work

6 What do brands and retailers think about TPP?

7 2015 Fashion Industry Benchmarking 72% of USFIA members expect to source more apparel products from TPP region 48% expect to adjust or strategically redesign supply chain based on TPP 87% support reducing documentation requirements for free trade agreements 83% support abandoning yarn-forward Rule of Origin

8 But despite high duties, companies aren t utilizing free trade programs. Only 14.8% of apparel imports to the United States were duty free in 2015 This is a slight decrease from 2014 (15%) The Top 4 suppliers of apparel (China, Vietnam, Bangladesh, Indonesia) cover 65% of market share with no FTA yet!

9 Meet Our Panelist

10 Bill Jackson Acting Assistant U.S. Trade Representative for Textiles Office of the U.S. Trade Representative

11 T H A N K Y O U! Julia K. Hughes

12 The Trans-Pacific Partnership: Understanding Benefits and Opportunities Presentation at Sourcing at MAGIC February 16, 2016 Las Vegas

13 A Free Trade Agreement for the 21 st Century Regional free trade agreement between 12 nations representing 40% of world GDP. Opens markets to U.S. goods and services exports in one of the fastest growing regions in the world.

14 Key Feature: Labor Rights

15 Key Feature: Environmental Protection

16 Other Key Features: Strong rules protecting IPR and promoting e-commerce Provisions to ensure fair competition with state-owned enterprises

17 Textiles and Apparel: A Balanced Package Provides new commercial opportunities for U.S. brands and retailers. Takes into account the interests of U.S. domestic producers, including relationships with Western Hemisphere supply chains.

18 Market Access All textile tariffs reduced or eliminated in all 12 countries. All tariff lines see significant duty cuts on day one. All tariffs go to zero some immediately, some after a phase-out.

19 Potential Duty Savings Five New FTA Partners in TPP: Brunei, Japan, Malaysia, New Zealand, and Vietnam Apparel Imports: Vietnam $10.6 billion Malaysia $521 million Total Potential Duty Savings: >$1.8 billion.

20 Rules of Origin Yarn-Forward Rule Promotes TPP region supply chains Keeps benefits of TPP in U.S. & TPP region Short Supply List permits some flexibilities Rules permit cut-and-sew for some products

21 Strong Customs Enforcement Provides tools enabling CBP to prevent fraud and to ensure that benefits go to TPP parties and producers.

22 Next Steps Agreement signed February 4, 2016 USITC economic assessment Congressional review Entry into force upon approval by TPP partners

23 Opportunity: Travel Goods All travel goods and bags made of textiles are duty-free on day one Duties as high as 17.6% Imports from Vietnam: $385 million; duties paid: $57 million Rule of Origin: single transformation

24 Opportunity: Dresses & Skirts All dresses and skirts are duty-free on day one -- of any fiber, knit or woven Duties as high as 16% Imports from Vietnam: $868 million; duties paid: $120 million Short Supply List: wide variety of man-made fiber yarns and fabrics

25 Opportunity: Anoraks Top 3 anorak lines duty-free on day one Duty as high as 15.9% Imports from Vietnam: $400 million; duties paid: $35 million Short Supply List: synthetic knit and woven fabrics that are breathable and waterproof

26 Opportunity: Dress shirts Duty-free from Vietnam & Malaysia on day 1 Duty as high as 19.7% Imports from these two countries: $221 million; duties paid: $40 million Short Supply List: woven cotton fabric

27 Opportunity: Cotton Pants (Vietnam) Duty-free benefits linked to purchase of U.S. cotton bottom-weight fabric Duties as high as 16.6% Matching benefits for pants incorporating fabric from non-tpp sources Subject to certain limits for mens/boys pants

28 Opportunity: U.S. Exports New duty-free market access in Japan, New Zealand, Vietnam, and Malaysia Yarn-forward promotes exports of U.S. yarn and fabrics for use in TPP production

29 In sum, TPP will: Create new opportunities for U.S. exports Eliminate duties on textiles & apparel imports Promote U.S. values & enhance U.S. competitiveness

30 Learn more at

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