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Thursday, 10 March 2022 15:59

Apparel producers in Western Hemisphere struggle to increase market share

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Apparel, producers in the Western Hemisphere, and specifically in Central America, struggled to grow their market share by more than a percent in the last year.

The US witnessed an unprecedented surge of migrants from Central America due to the lack of job creation. Rather than working to address the root causes of migration as promised, President Joe Biden and Vice President Kamala Harris stuck with failed policies that could easily be fixed.

In her recent announcement in support of private sector investments in the Central American region, Harris refused to support updating current provisions in the Central American Free Trade Agreement — known as CAFTA-DR — that hinder economic development and job growth. This trade agreement intends to boost trade and increase economic prosperity in the region, but it has been limited in its ability to achieve this objective, particularly when it comes to the apparel industry. An update to the agreement would provide a long-term solution to job creation in Central America, as opposed to the administration’s band-aid approach.