NAFTA is responsible for the integration of textiles production in North America. This has been a major boom for Canada, Mexico, and the United States, and a new study by the Congressional Research Service shows that the U.S. has especially benefited from a consolidated North American textiles market.
The United States currently enjoys a bilateral trade surplus in yarns and fabrics with Mexico and Canada. In 2016, this surplus was more than $4 billion and the value of yarn and fabric exports to NAFTA partners was nearly $6 billion. However, the Trump administration has taken a hardline stance in NAFTA renegotiations and their threat of withdrawing from the agreement puts the United States’ textiles surplus at great risk.
Read the Article