A new bill that would allow duty-free imports of products made in Mongolia using Mongolian cashmere was introduced in both the US House and the Senate last week and has gathered support from apparel brands and importers.
The Mongolia Third-Neighbour Trade Act was introduced by Republican congressman Ted Yoho, who explains: ‘the bill 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 strategic partner of the Unites States. He said ‘It is estimated that this simple act will create upwards of 40,000 jobs primarily for women who make up 90 percent of the garment industry in Mongolia. We look forward the bill will be signed into law by President Donald Trump’.
The bill would support an important sector of Mongolian economy and reduce US imports of Chinese cashmere products. Mongolian cashmere is a brand and of itself.