United States

A new report released by the National Retail Federation (NRF) says that the pending Trans-Pacific Partnership (TPP) trade agreement will have a positive impact on both U.S. retailers and consumers. The report emphasizes the importance of international trade to the U.S. economy and says that the TPP would significantly increase economic growth and opportunity in the United States. The NRF has also urged Congress to move quickly on approving the TPP so that these benefits can be realized as soon as possible.(NRF)/(Fibre2Fashion)
 
Both chambers of the U.S. Congress have approved the American Manufacturing Competitiveness Act, sending it to President Barack Obama to be signed into law. Once enacted, the law will eliminate tariffs on imported goods, including finished products and raw materials, that are not available domestically. Several prominent textile trade organizations have praised the bill, saying that it will help bolster the industry and create jobs. (Fibre2Fashion)
 
Global athletic apparel and footwear company Nike has announced a new strategy in which it hopes to double its business while halving its impact. The announcement came as the company released its FY 14/15 Sustainable Business Report, in which it set a vision for a “low-carbon, closed-loop” future for the company. Nike also says it has made strong progress toward its ongoing sustainability goals, including reducing carbon emissions and forming better relationships with contract suppliers. (Business Wire)