Sunday, April 14

Day: October 11, 2014

Retailers urge US to cut tariff on apparel imports
ENGLISH

Retailers urge US to cut tariff on apparel imports

Refayet Ullah Mirdha: Leading retailers and brands in the US want their government to reduce import tariff on apparel and fashion accessories, according to a recent survey by US Fashion Industry Association. The survey was conducted among 29 retailers and brands of which 85 percent called for abandoning rules of origin meant for apparel items. If the US government cuts import tariff on apparel and fashion accessories, Bangladesh will be benefitted as the country now pays a huge amount of customs duty to the US. “Respondents report very low utilisation rates of current FTAs (free trade agreements) and preference programmes, suggesting that current rules do not work for the industry,” the survey report said. Bangladesh has long been negotiating with the US for duty-free access of its garm...