December 5: While both the House and the Senate have passed versions of the Republican tax plan, the fight remains far from over. There is little doubt among investors and analysts that tax legislation will reach President Donald Trump's desk. But negotiators now need to iron out significant discrepancies between the House and the Senate versions of the tax bill, called the Tax Cuts and Jobs Act, and pass that updated bill in both chambers. (Source: Business Insider)
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December 5: This week on Capitol Hill, trade critics will convene to recommend removing the Investor-State Dispute Settlement system – a critical item in the existing North American Free Trade Agreement. This important provision needs to be maintained – not eliminated – in the current negotiation talks. ... Unfortunately, however, some troubling developments took place at recent negotiation rounds when the U.S. trade representative weakened the ISDS provision, a significant protection for American economic interests abroad. (Source: Morning Consult)
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November 28: Textile and apparel executives, and their U.S.
workers, are nervously eyeing the ongoing negotiations to modernize
the North American Free Trade Agreement (NAFTA). Concerns around
possible job losses in this sector are running high and rising. (Source: U.S. Chamber of Commerce, op-ed with AAFA’s Steve Lamar)
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December 3: ... The science aside, is 3D printing a game changer that is disrupting luxury fashion the way e-commerce has disrupted retail businesses? What are the challenges it poses to the luxury business? What are its limitations? And how can the luxury business capitalize on its potential? ( Source: Forbes)
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November 30: A law banning slave-made goods from entering the United States has failed, lawmakers and advocates said, as they push border authorities to step up inspections of suspicious shipments. More than $140 billion worth of goods likely to be made by forced labor enter the U.S. market each year, New York-based nonprofit Human Rights First estimates. But only $8.5 million worth of imports have been detained in nearly two years since the ban, the U.S. Customs and Border Protection (CBP) - which is tasked with enforcing it - told the Thomson Reuters Foundation. ( Source: Reuters)
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November 28: China remains the undisputed global giant in the textile and apparel industry. Its share of global apparel export is about 37 percent while the share of Bangladesh, the second largest readymade garment exporter in the world, is only about 6 percent. So, it is completely understandable that the actions of China will obviously influence the competitiveness of the other manufacturing hubs like ours.
( Source: The Daily Star, Bangladesh)
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November 30: Attempts to combat counterfeit, or "spoofed," online advertising space are showing signs of success, according to online ad giant Google. The average price of ad space purchased through Google’s ad-buying systems has increased over the past three weeks, the company said, which it attributes to its adoption of the "Ads.txt" industry initiative earlier this month. Ads.txt is a mechanism for online publishers to signal which partners and ad systems have permission to sell their ad space legitimately, thereby limiting the ability for nefarious actors to create and sell counterfeit inventory. ( Source: Wall Street Journal)
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November 30: The European Commission will initiate efforts to identify the countries and online marketplaces that serve as the most significant producers and havens for counterfeit and otherwise infringing goods in its fight against the multi-billion euro counterfeit trade. According to the European Commission, its "Watch List" efforts are being put forth in an attempt to cut down on the roughly €85 billion worth of counterfeit goods that enter into the European Union each year. (Source: The Fashion Law)
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In Brief
Tracking tax reform: Late Friday, the Senate approved its version of comprehensive tax reform legislation. AAFA has been tracking the process and encouraging Congress to advance legislation that lowers tax burdens, simplifies the tax code, and makes U.S. operations more internationally competitive. With House passage of a different version last month, Senate action sets up a joint House-Senate conference that is expected to yield a bill that can be signed by the President before the end of the month. In the meantime, members are encouraged to review provisions with their tax advisors and provide input to AAFA – please contact Steve Lamar to share your comments.
Accessories Market dates for 2018: The Fashion Accessories Shippers Association (FASA), in collaboration with Gemini Shippers, has announced the Accessories Market Dates for 2018 – mark your calendars.
Advertising in the new year: Looking to expand your visibility within the apparel and footwear industry in 2018? Ask us about opportunities in this AAFA Weekly Brief newsletter and the aafaglobal.org website! For a broader role in AAFA’s events and high visibility webinars, members are encouraged to start a sponsorship discussion with AAFA’s Megan Balkovic.
See all of AAFA’s latest letters, comments, and testimony here.
Congress and government agencies solicit comments on a range of issues that may affect your business – find a list of comment opportunities here.
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December
December 6 Webinar: Moisture Management with Performance Fabrics
December 11 Webinar: Trade Policy in 2017 - Is the U.S. Getting Left Behind?
Visit our events calendar for all AAFA webinars and industry events.
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Trade
