The US is aiming to reduce its reliance on Chinese manufacturing and support domestic industry. The nascent circular fashion sector may prove an unlikely beneficiary.
A new trade bill that aims to boost economic ties between the US and countries in Latin America includes billions of dollars of incentives for companies involved in circular fashion, from resale platforms to textile waste sorting facilities and recyclers.
The Americas Trade and Investment Act, or Americas Act, seeks to encourage the reshoring and near-shoring of manufacturing supply chains with a heavy footprint in China. It also aims to close a tax loophole that allows e-commerce giants to ship millions of packages to the US each year without paying any duty.
