Good news for upstate NY clothier Hickey Freeman; U.S. Senate farm bill would extend Wool Trust Fund program; House version would slash program in half
ROCHESTER, N.Y. (AP) — Good news for upstate New York clothier Hickey Freeman.
The new U.S. Senate farm bill would extend the Wool Trust Fund program, which the Rochester-based company counts on for relief from tariffs. The fund is set to expire next year.
Democratic U.S. Sen. Charles Schumer says the program is essential to put U.S. companies that make wool clothing products on a level playing field. Overseas competitors import suits into the U.S. and don’t have to pay the same wool duties as U.S. suit makers.
The Wool Trust Fund program also provides U.S. wool producers with funding for improvements in wool production methods and development of the wool market.
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The House version of the farm bill would slash the program in half.