FTAA, WTO and the New Farm Bill: A Cotton and Textiles Perspective.

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FTAA, WTO and the New Farm Bill: A Cotton and Textiles Perspective

New Farm Bill Cotton industry pleased with structure and levels of support Will help to stabilize agriculture and infrastructure Payment limits a continuing issue Don’t anticipate significant structural adjustments arising from farm bill Cotton industry pleased with structure and levels of support Will help to stabilize agriculture and infrastructure Payment limits a continuing issue Don’t anticipate significant structural adjustments arising from farm bill

Challenges Reeling US textile industry More export oriented Reeling US textile industry More export oriented

U.S. Cotton Mill Use Million Bales

Retail Cotton Consumption

Trade Agreements WTO –Elimination of quotas in 2005 –China membership –Unilateral liberalization of US quotas WTO –Elimination of quotas in 2005 –China membership –Unilateral liberalization of US quotas

Trade Agreements Regional agreements –NAFTA –CBI –Model for FTAA, Andean, Chile? Regional agreements –NAFTA –CBI –Model for FTAA, Andean, Chile?

US Cotton Product Exports Million Bales

Cotton Textile Import Source Million Bale Equivalents

World Trade & US Exports Million Bales

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