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TPP UPDATES
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TPP Withdrawal: US cotton farmers could be ultimate losers

"Right from campaigning days, President Donald Trump had made it clear that he is not in favour of multinational trade agreements viz. NAFTA and the Trans-Pacific Partnership. Last month, he signed an executive order withdrawing the US from the negotiations of the TPP, a free-trade agreement be... Read more

US out of TPP, Australia, New Zealand to pursue 'TPP 12 minus one'

"President Trump took first step towards implementing his economic agenda --- signing an executive action removing the US from a free trade deal Trans-Pacific Partnership (TPP). This was one of Trump’s core campaign promises. The accord negotiated by the Bush and Obama administrations has... Read more

Even without the US, TPP is worth it

The US is very likely to pull out of the Trans-Pacific Partnership trade deal. But the deal is worth it. The other eleven signatories should try to make a go of it. A TPP without the US is still a lot better for Japan and the other partners than no TPP at all. A TPP would establish rules and... Read more

With TPP in force, Vietnam’s garment exports to Mexico would double

After the implementation of Trans-Pacific Partnership (TPP), the Vietnam Textile and Garment Association (VITAS) and Mexico’s National Chamber of Textile Industry (Canaintex) expects the value of Vietnamese exports to Mexico to double in 3 to 4 years as tariff on Vietnamese goods exported to Me... Read more

Obama in a hurry to pass TPP in the face of mounting opposition

With mounting opposition, US President Barack Obama is desperately trying to pass the Trans-Pacific Partnership (TPP) trade deal before his term ends in 2017. Both major party presidential nominees, former Secretary of State Hillary Clinton and Donald Trump have publicly stated that they would ... Read more

TPP offers exciting opportunities for Canadian retailers

The TPP agreement is Canada’s first free trade agreement that contains a chapter specifically dedicated to textiles and apparel. According to Global Affairs Canada, the TPP’s textile and apparel rules of origin will provide Canadian producers more flexibility in sourcing options, opening up Can... Read more

For Vietnam, TPP’s ratification vital before looking at real gains

"The US Congress last July gave the President fastrack authority, or Trade Promotion Authority (TPA), which led to the conclusion of negotiations over the TPP in February this year as the most positive step so far. In other words, US lawmakers will give the trade pact an up or down vote, withou... Read more

Study finds TPP would have little effect on apparel import, export

Under the Trans-Pacific Partnership agreement (TPP), US apparel imports and exports would only increase slightly which must be approved by Congress. The US International Trade Commission recently published an independent study of the free-trade accord and found that US apparel imports would inc... Read more

US firms seeking foothold in Vietnam as TPP takes effect

"Vietnam could become even more appealing to US through the Trans-Pacific Partnership, an expansive 12-nation trade deal that would phase out steep import tariffs on Vietnamese-made goods, but only if Congress puts its stamp on it. In campaign season that has ¬renewed public anxiety about US jo... Read more

TPP could hugely benefit Vietnam

Vietnam one of the poorest members of TPP’s first round of members. But the nature of its economy – manufacturing and export-driven – means that falling tariff barriers with the US and other member states could be a huge boon to its economy. TPP (Trans Pacific Partnership) offers Vietnam prefer... Read more

TPP to benefit US retailers and consumers

The Trans-Pacific Partnership trade agreement is expected to have a positive impact on both retailers and American consumers. Tariffs on goods from TPP countries totaled nearly $6 billion in 2015, and most of it would eventually be eliminated after the measure is enacted, which would benefit co... Read more

US industry roots for TPP

The apparel and footwear industries in the US stand to gain once the TPP comes into force. Over the next 15 years, apparel employment is projected to increase by 0.9 per cent and output by one per cent. Footwear employment will increase by 0.8 per cent and output by 0.5 per cent. US consumers w... Read more

India may lose at least $2 bn in apparel exports under TPP

Due to the Trans-Pacific Partnership (TPP) being implemented between 12 member nations, by 2017 India may easily lose around $1-2 billion or more in terms of garment and fabric exports. TPP mandates that for member countries to export garments to each other, they should source 75 per cent of th... Read more

Sri Lankan minister vows to safeguard apparel exports from TPP

Rishad Bathiudeen, Sri Lanka's Minister of Commerce and Industry has vowed to safeguard the country's apparel industry from the Trans-Pacific Partnership (TPP) trade agreement which has the potential to result in trade diversion from Sri Lanka. The minister said, we need to be able to carefully... Read more

Riding on TPP, Malaysia's textile and apparel sector to grow

According to Rebecca Chiang, executive director, Malaysian Knitting Manufacturers Association (MKMA), Malaysia’s textile division will grow by at least 30 per cent, thanks to a surge of investment when the Trans-Pacific Partnership (TPP) agreement comes into force. The trade deal’s ‘yarn forwa... Read more

TPP could be a challenge for Sri Lanka in the future

"Sri Lanka’s garment exporters have found a niche thanks to their design-to-deliver supply chain. But the industry could be embroiled in myriad challenges from the fast-changing global trade environment.  With the US-led Trans-Pacific Partnership (TPP) trade pact - of which Sri Lanka is no... Read more

TPP may adversely affect India’s apparel exports to the US

The Trans-Pacific Partnership may adversely affect Indian textile and garment exports to the US. Exporters from TPP member countries will get preferential access to the US market while non-members like India will lose out. The US imported about $82 billion worth of apparels in 2015 of which Ind... Read more

TPP could be a bug bear for India

The Trans Pacific Partnership can pose problems for India’s textile and clothing business. For one, exporters from TPP member countries (of which India is not a member) will get preferential access to the US market. India’s apparel exports to the US have been sliding since 2010-11. To avail of ... Read more

Bangladesh in dilemma about joining TPP

Bangladesh doesn’t hope to get any significant benefits by joining the Trans Pacific Partnership (TPP). Exports anyway get tariff-free access to markets in most TPP member-countries like Australia, Canada, Japan, Singapore and New Zealand. In fact Bangladesh’s income from duty on imports from... Read more

Mexico textile sector worries over TPP and Trump wall

Despite eyeing 4 per cent growth this year, Mexico's textile sector faces looming threats including the Trans-Pacific Partnership (TPP) and Donald Trump's proposal to barricade its US border – which some executives estimate could trigger $2 billion in annual trade losses. According to Juan Al... Read more

PSF 2016: Exploring Vietnam’s preparedness in tapping TPP benefits

"As Robert Sinclair, COO of LF Sourcing observed at the recent Prime Source Forum (PSF) conference in Hong Kong, Vietnam with or without TPP, remains a good sourcing destination, but warns it has its limitations. Sinclair compares the country's population of just over 90 million to that of Chin... Read more

PSF discusses TPP and the challenges in implementation

Transpacific Partnership Agreement (TPP) was one of the top discussion points on Day 1 of Prime Source Forum. Discussions in the session ‘Update on TPP and development conditions in ASEAN and Africa’ finally had to be split into two between the topics: TPP and emergence of Afric... Read more

Now it is Hong Kong that may join TPP wagon

In his welcome address, on second day of PSF, Hon Felix Chung Kwok-pan, Member, Functional Consultancy-Textile and Garment, The Legislative Council of Hong Kong, said that when five years ago talks of TPP came across Hong Kong Government, it was not a very interesting idea, and ... Read more

TPP lures many foreign investors to Vietnam’s textile, garment sector

"TPP will help boost production and exports in Vietnam and enhance its maritime trade with the US. As far as the textile companies are concerned, Vietnam’s skilled workers are a plus even when labour costs are higher than that of Bangladesh and Myanmar. In fact, Japanese garment-textile compani... Read more

The TPP, its implications and options for Beijing

The recently signed Trans-Pacific Partnership (TPP) is one of the largest free trade agreements in the world with its members accounting for about 40 percent of the global economic output, the implementation of the TPP will have major implications for the Asia-Pacific region, many of which are ... Read more

TPP delay could cost US exporters dearly

Delay or failure to implement the Trans-Pacific Partnership (TPP) trade deal could cost US exporters around $94bn, which also suggests global headwinds are likely to continue to weigh on US growth in the near future. The 2016 'Economic Report of the President', written by the Council of Econo... Read more

Indonesia keen on joining TPP

Indonesia may join the Trans Pacific Partnership in the coming years. The country’s textile industry is ready for the partnership as it is already structured from its upstream to downstream. Indonesia feels the TPP could more than double its textile exports in a decade as the US is one of its m... Read more

Vietnam’s progress with TPP alarms rivals

Vietnam is set to gain a lot from the Trans-Pacific Partnership (TPP). And Bangladesh, China, Indonesia and Pakistan are worried. Bangladesh and China are the world’s number two and the top garment exporter respectively. Indonesia and Pakistan have large textile and apparel sectors. Vietnam i... Read more

Ahead of TPP, US becomes Vietnam's top trade partner

Reflected through impressive trade values between the two countries over recent years, the US has become Vietnam's leading trade and investment partner. Bilateral trade has expanded from zero since the day Vietnam and the US normalised their diplomatic ties 20 years ago to $36.3 billion in 2014... Read more

TPP may give Vietnam tax benefits

Under the Trans Pacific Partnership, Vietnamese companies won’t have to pay tax when exporting products to the US. Vietnamese textile and garment products now have an import tariff of 17 per cent on an average when entering the US market. However, there is a feeling that it is not Vietnamese en... Read more

Pakistan’s spinners, ginners face losses due to TPP

Pakistan’s textile sector is going through a crucial juncture. In the last year, 100 spinning factories and 500 ginning factories have closed down. The Trans-Pacific Partnership could give regional competitors such as Vietnam and Malaysia which are members advantages in trading with the US, Jap... Read more

TPP Effect: India pins hopes on China-backed trade bloc

"According to officials, India was hopeful of striking a tariff-cutting deal this year, in the clearest indication yet that India wants to accelerate progress on a bloc first launched in 2012. Ganeshan Wignaraja of the Asian Development Bank (ADB) feels a breakthrough on RCEP would help mitigat... Read more

TPP puts Bangladesh in a hard place with its RMG exports

"Experts feel Bangladesh might lose its competitive edge in global apparel business after the signing of the trade pact. Their exporters may face an uneven and tough competition. TPP is aimed at cutting trade barriers and setting common standards for 12 countries. More than 18,000 taxes imposed... Read more

Questions remain over TPP

As the Trans Pacific Partnership free trade deal that covers 12 Pacific rim countries including the United States and New Zealand deal gets signed it is expected to significantly boost trade. But for the pact to take force, each country must now ratify it through its domestic political process.... Read more

AAFA says TPP will bring opportunities

The American Apparel & Footwear Association (AAFA), a trade association representing more than 1,000 brands with members from across the entire fashion supply chain, released a statement in support of the Trans-Pacific Partnership. With the TPP covering 40 per cent of the world's GDP and re... Read more

India must be prepared to deal with post-TPP challenges

"If India decides to be a part of the TPP agreement, the country will have to focus on upgrading its production standards. But such measures could take a lot of time adversely impacting the country’s export industries. Additionally, India’s labour market will also have to undergo a sophisticate... Read more

Thailand would benefit by joining TPP: Study

A study commissioned by the Commerce Ministry of Thailand has found that the country’s economy could grow more than 0.77 per cent a year if it joins the Trans-Pacific Partnership. The study also found there would be challenges to confront by joining TPP including tougher competition and stringe... Read more

Analyse TPP's impact on Bangladesh, say experts

Bangladesh should immediately study the potential consequences of the mega trade deal, Trans-Pacific Partnership, on its economy, feel experts. As official Cecile Fruman, Director of Trade and Competitiveness, World Bank Group, points out, Bangladesh needs to understand the TPP. It also should ... Read more

US companies give a thumbs-up to TPP

Textile firms in the US are willing to support the Trans Pacific Partnership. They feel the deal meets their key objectives. Under the negotiated terms Vietnamese cut-and-sew operations in most cases would have to buy yarn and fabric from the United States or other countries within the 12-natio... Read more

Indonesia to scan TPP fine print before joining

Indonesia intends to voice its concerns and negotiate a few issues with the Trans-Pacific Partnership (TPP) signatories before officially joining the US-led multilateral trade cooperation. It would take another year for TPP ratification to complete and during that time the country would thoroug... Read more

Malaysian textile and apparel industry supports TPP

The textile and apparel industry segment in Malaysia is supporting Trans-Pacific Partnership Agreement (TPP), which is expected to promote at least 30 per cent growth in export revenue for the industry. Malaysian Knitting Manufacturers Association (MKMA) president Tang Chong Chin said that the ... Read more

Indonesia to scan TPP fine print before joining

Indonesia intends to voice its concerns and negotiate a few issues with the Trans-Pacific Partnership (TPP) signatories before officially joining the US-led multilateral trade cooperation. It would take another year for TPP ratification to complete and during that time the country would thoroug... Read more

TPP to boost trade unions in member countries including Vietnam

The Trans-Pacific Partnership (TPP), a deal that has been touted as a foundation for “21st century trade” by US President Barack Obama could allow millions of workers in Vietnam’s export-orientated factories, which are driving impressive economic growth, to form independent trade unions. The TP... Read more

Japan has a yen for Vietnam, lured by TPP

Japanese textile companies are flocking to Vietnam. Many of these manufacturers are hoping to get a boost from the proposed Trans-Pacific Partnership free trade agreement, to which Vietnam is a party and are ramping up production and exports in the Southeast Asian country with an eye toward boo... Read more

TPP to benefit Japan heavily

The Trans-Pacific Partnership deal will give double-digit boost to exports from Vietnam, Japan and Malaysia by 2030. Exports from Vietnam are expected to rise by 30.1 per cent, from Japan by 23.2 per cent, and from Malaysia by 20.1 per cent. Japan, a major exporter of electronics, would receive... Read more

TPP Affect: India needs new FTAs to compete globally

"With TPP benefitting Vietnam, since it will get duty-free access to the US, Canada and Australia, Gangwar is of the opinion that his ministry along with the Ministry of Commerce is looking at signing FTAs with important markets like the EU, the US, CIS countries, South Africa and Turkey and La... Read more

TPP: Sets the stage for cross country collaborations

TRENDSPOTTING 2016: TPP is being projected as the biggest trade agreement in history, which will facilitate elimination of 18,000 tariffs on US-manufactured goods, while giving member countries cheaper access to markets across the Pacific. However, opinion is spilt about its real objective... Read more

After TPP, Vietnam emerges as an attractive investment hub

Several new trade pacts such as the one with EU and Trans-Pacific Partnership are expected boost Vietnam’s economy as many foreign investors are already showing keen interest in making investments in the country. These pacts will also let Vietnam take advantage of low tariffs, which will benef... Read more

TPP could adversely affect Korea’s exports

Since Korea is not a part of the Trans-Pacific Partnership agreement, it’s likely to suffer huge export losses over the next 10 years. Korean companies' exports to 12 member TPP nations, made from their manufacturing bases in Vietnam, are expected to drop $620 million a year and their shipments... Read more

Malaysia’s participation in TPP to boost its textile exports

"Malaysian textile sector, which contributes only 1.4 per cent of total exports last year, will register the largest gains in exports within the first decade of the implementation of the Trans Pacific Partnership agreement, according to a cost-benefit analysis. This is assuming that all tariffs... Read more

TPP creates opportunities for US textiles, apparel sector

"An estimated $48 million in duties are levied on US exports of textiles and apparel products in TPP markets including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, every year and $835 million were levied in new TPP markets such as Brunei, ... Read more

Thai concerns about TPP on its exports and FDI

The Trans-Pacific Partnership (TPP) among 12 countries led by the US, along with Canada, Mexico, Peru, Chile, Australia, and New Zealand, encompasses not only tariff reductions for trade in goods among members but also includes eliminating barriers to investments and services trade. TPP members... Read more

Bangladesh fears adverse impact TPP on country’s exports

At the second annual meeting of the Bangladesh-US Trade and Investment Cooperation Forum Agreement (TICFA) held on Monday in Washington, Bangladesh has expressed that the newly formed Trans-Pacific Partnership (TPP) may have an adverse impact on the country’s exports. The Bangladesh embassy... Read more

TPP excites interest among more countries

The Trans-Pacific Partnership (TPP) is gaining ground with at least five more countries planning to join the trade pact. At present there are 12 TPP members including Brunei, Chile, New Zealand, Singapore, Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States and Vietnam. Countr... Read more

TPP to benefit Vietnam, but China may abuse it

It is anticipated that Vietnam would benefit a lot through the Trans-Pacific Partnership (TPP), especially, the textile and garment industry of the country. However, concerns have been raised because of the sudden rise of Chinese projects. Duong Dinh Giam, former Director of the Institute for I... Read more

US debates TPP and its benefits

There is an ongoing debate in the United States on how the Trans Pacific Partnership can benefit the country. Manufacturing workers and unions think another free trade deal will inevitably hurt them. The last half-century of globalisation, they feel, has coincided with a massive loss of blue-co... Read more

TPP’s Yarn Forward rule to benefit Vietnam

One of the important elements of the Trans-Pacific Partnership (TPP) is the 'Yarn Forward' rule, a component of the textiles and apparel section, experts say this will have specific impact on countries such as China, Vietnam and Malaysia. Under this provision, only yarn made by... Read more

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