US to impose tariff on Honduran sock imports

The Bush administration decided yesterday to impose a 5 percent tariff on Honduran socks later this year after finding that imports of low-priced cotton footwear from Central America were hurting struggling sock makers in North Carolina and Alabama.

Monday, April 28, 2008

Though the move could temporarily improve U.S.-made sock sales by boosting the price of Honduran socks, smaller domestic sock makers called the gesture a sham that will do little to prop up their rapidly vanishing businesses.
"This administration has forgotten about the working person. Period. They don’t care," said Dennis Martin, president of North Carolina Sock in Hickory, N.C.

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More on this topic

Once Again the Problem with the Colombian Tariffs

November 2017

The South American country has extended the tariff of 35% and 40% on imports of footwear and textiles, respectively, for two more years, further complicating the outlook for companies in the Colon Free Zone.

Up until November 2019, the Colombian government will continue to apply the 35% tariff for footwear and 40% for textiles that enter the country at a value equal to or lower than a predetermined threshold.

Honduran Socks Exports on the Rise

July 2009

After the U.S. socks tariff was waived on January 1st, exports have increased 15%.

An article in reports that "Gullermo Matamoros, director of the Honduran Maquila Association, explained that despite the global crisis, Honduras remains the world's top exporter of the product.

US suspends tariffs on Honduran socks

January 2009

Since Thursday January 1, the United States has suspended the temporary 7% tariff that it had imposed on sock coming from Honduras. reported that "this means that Honduras is free from restrictions to export socks and now has a huge opportunity for growth in this area, said Jesus Canahuati, head of the Maquilas Associations, to AP."

US sock makers wage war on Gildan imports

May 2008

Just two years after launching an ambitious plan to become a major player in the North American hosiery business, Gildan Activewear Inc. finds itself caught up in an international trade dispute over the flood of socks into the U.S. from Honduras.

In a politically charged anti-free-trade crusade, independent U.S.

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