Bipartisan Bill Introduced to Give Duty-Free Status to Mongolian Cashmere
Mongolian cashmere would enter duty-free if a bipartisan bill led by Reps. Ted Yoho, R-Fla., and Dina Titus, D-Nev., becomes law. The Mongolia Third-Neighbor Trade Act, introduced April 10, is also co-sponsored by three other Democrats and three other Republicans.…
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"The Mongolia Third-Neighbor Trade Act is not just about imports of cashmere; it is smart policy that supports a strong, independent Mongolia that continues to be a beacon of freedom in the region and a strategic partner of the United States," Yoho said in a release announcing the bill. Cashmere wool from most countries faces a tariff of 6.8 cents per kg, plus 5.5 percent. The sponsors of a companion bill that will be introduced in the Senate -- Sens. Dan Sullivan, R-Ala., and Ben Cardin, D-Md. -- also spoke about the bill's benefits. Their bill aims to "help bring stability, employment and economic empowerment to the women of Mongolia who comprise most of the country’s garment industry,” Cardin said.