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This act requires all textile products sold in the United States to carry labels with fiber content and care instructions. It’s crucial for trade as it standardizes information for consumers and ensures transparency in the textile industry.

Textile recycling is the process of recovering fiber, yarn, or fabric and reprocessing the textile material into useful products. This is crucial for reducing waste and the environmental impact of the textile industry.

Vertical integration occurs when a company expands its operations into different steps on the same production path, such as when a textile manufacturer also engages in retailing. It can insure better control over the supply chain, reduce costs, and improve margins.

Counterfeit goods are imitation products that are sold illegally under another company's brand name. The textile industry can be significantly impacted by counterfeit trade, which affects brand reputation, revenue and exposes consumers to possibly unsafe products.

Cotton futures are contracts to buy or sell cotton at a specified price on a future date. This is relevant to the textile industry as it allows cotton producers and consumers to hedge against price volatility.

The WTO is an international organization that regulates and facilitates international trade. In textiles, it ensures trade laws are followed and can resolve disputes, promoting a stable trade environment.

Although currently defunct, TPP was a proposed trade agreement that would have included significant textile market implications by reducing tariffs and quotas among member countries, potentially impacting global textile trade flows.

A tariff is a tax imposed by a government on goods imported from other countries. In the textile industry, tariffs can protect domestic manufacturers by increasing the cost of imported goods, making them less competitive.

A trade war occurs when countries impose tariffs or quotas on each other's products, leading to a decline in international trade. For the textile industry, a trade war could lead to increased costs, supply chain disruptions, and reduced international sales.

Fast fashion is a contemporary term used by fashion retailers to express that designs move from catwalk quickly to capture current fashion trends. The textile industry must respond rapidly to supply materials for fast fashion, impacting inventory management and production practices.

These are protectionist tariffs that a domestic government imposes on foreign imports that it believes are priced below fair market value. In textiles, it prevents dumping of cheaper foreign textiles and protects local textile industries.

Sustainability refers to eco-friendly practices that minimize environmental impact and conserve resources. In the textile industry, this involves using sustainable materials, reducing waste, and considering the full lifecycle impact of textile products.

The fashion cycle is the period of time or life span during which the fashion exists, moving through the five stages: introduction, rise in popularity, peak of popularity, decline, and obsolescence. The textile industry must adapt to these cycles in design, production, and marketing strategies.

An FTA is a pact between two or more nations to reduce barriers to imports and exports among them. Within the textile industry, FTAs can allow member countries to trade textiles with lower tariffs, facilitating a more competitive market.

Trade balance is the difference between a country's exports and imports. Textile trade balance is key in understanding a country’s position in the global textile market, which can influence economic decisions and policy-making.

A VER is a trade restriction on the volume of exports that can be exported to a certain country. In textiles, this might be agreed upon to avoid more stringent quotas or tariffs and can affect the supply and prices in the importing country.

A quota is a limit on the quantity of goods that can be imported into a country. In the textile sector, quotas can control the volume of textiles entering the market, which can protect domestic textile producers from foreign competition.

This refers to the elimination of textile quotas that was outlined in the Agreement on Textiles and Clothing (ATC) under the WTO. It ended in 2005 and allowed for a more free trade of textiles and apparel globally.

In textile engineering, this is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. Effective management can reduce costs and increase efficiency within the textile industry.