The 14th NCTO Annual Meeting in Washington DC was held on 23rd March with the prime focus on “how history went on to unfold and how much change can occur in twelve months” and how the President Trump’s trade policies will benefit the US textile sector.
Robert ‘Rob’ H. Chapman’s, the outgoing NCTO Chairman, statement outlined, “Unforeseen by most pollsters and pundits, the election of President Trump turned conventional political wisdom on its head and reignited debate on largely stagnant policy issues ranging from trade to tax and immigration reform.”
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According to the NCTO, the fundamentals for the US textile industry remain sound even though the US market for textiles and apparel was soft in 2016. For the most part, the sluggishness was due to factors beyond the industry’s control: an under-performing US economy, a weak global economy, and disruption within the retail sector as sales shift from brick and mortar outlets to the internet.
Hence, the President Trump’s forceful call to reinvigorate domestic manufacturing sends optimism in the market as per NCTO as for decades, US policy has undervalued domestic manufacturing’s importance to America.
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Precisely to stimulate manufacturing and kick start job creation, NCTO enthusiastically has endorsed Trump’s macro policy objectives of fighting for free, but fair trade, enforcing US trade laws, making the US tax code more internationally competitive, cutting unnecessary regulation, revitalizing infrastructure, buying American, ensuring cheap energy, and fixing health care.
It’s worth recalling here NCTO President & CEO Auggie Tantillo, two months ago shared his support on working with Trump and his policies. “NCTO congratulates President Trump on his inauguration. The US textile industry is eager to partner with him to stimulate American jobs, production, and exports,” he shared.
