Multi-Fiber Arrangement - MFA
Categories: Tech
Not a deal with your spouse that allows you to wear polyester shirts and rayon pants on your next date.
It's an international trade deal that helped guide imports in textiles for thirty years, between 1974 to 2004.
The agreement, between the U.S. and the European Union, provided import restrictions for products made in emerging countries. These items, made in countries with low labor costs, could sell cheaply in the U.S. and European markets. The Multi-Fiber Arrangement protected domestic producers in these developed countries from some of this low-priced competition.
The MFA ended on January 1, 2005, after a series of renegotiations under the World Trade Organization.
