Apparel makers and yarn spinners mull potential of merger between Nafta and Cafta. Duties would disappear under unity of pacts
At one time, there was talk of linking the Western Hemisphere into one gigantic free-trade zone that would stretch from Argentina to Canada.
That idea languished on the negotiating table.
But at a panel discussion at the Sourcing at MAGIC trade show in Las Vegas last month, the conversation drifted to merging tNafta with Cafta.
The idea is particularly tempting to US yarn spinners and apparel makers that believe business would grow as duties—averaging 14 percent to 18 percent—disappear when goods are shipped from Central America to Canada, for example, or from the Dominican Republic to Mexico.
Original source: Apparel News