With the conclusion of the Trans-Pacific Partnership (TPP) negotiations earlier this month, there are high hopes that this ambitious trade agreement will lead to greater market access, lower tariffs and more duty-free apparel from TPP partner countries like Vietnam, translating to cheaper clothing and shoes for consumers.
However, a lot of questions remain about what changes will take place and under what timeframe. Will TPP bring about a strategic shift in sourcing decisions by U.S. fashion retailers and brands? Will TPP partners Vietnam and Malaysia displace China, Bangladesh and India as the major sourcing centers for U.S. retailers?
The answer to all of the above questions is – maybe, but probably not.
Read more at Sourcing Journal.