Representative Louise Slaughter [NY 28] and Representative Melissa Bean [IL-8] have introduced H.R.4831, a bill to extend the temporary duty reductions and suspensions on certain wool products, and for other purposes.
NTA supports H.R.4831 as drafted to extend the entirety of the wool TRQ, duty suspension, payment, and trust fund package.
The current wool program represents a carefully crafted compromise, supported by all interested parties in the wool production chain.
For example, while the existing program allows for a limited amount of annual wool fabric imports into the U.S. at significantly reduced duty rates, it also establishes a trust fund for domestic wool fabric producers which helps to offset losses derived from the tariff reductions.
Critical aspects of the legislation to domestic yarn and fabric producers such as our company are due to expire in 2009.
Failure to extend this legislative program will create substantial uncertainty in the market with possible severe consequences for the thousands of U.S. workers that are involved in the production of wool fiber, fabric and apparel.
NTA supports H.R.4831 as drafted to extend the entirety of the wool TRQ, duty suspension, payment, and trust fund package.
The current wool program represents a carefully crafted compromise, supported by all interested parties in the wool production chain.
For example, while the existing program allows for a limited amount of annual wool fabric imports into the U.S. at significantly reduced duty rates, it also establishes a trust fund for domestic wool fabric producers which helps to offset losses derived from the tariff reductions.
Critical aspects of the legislation to domestic yarn and fabric producers such as our company are due to expire in 2009.
Failure to extend this legislative program will create substantial uncertainty in the market with possible severe consequences for the thousands of U.S. workers that are involved in the production of wool fiber, fabric and apparel.
