Coup in Myanmar Should Raise Concerns for Industry

On Jan. 31, the military in Myanmar launched a coup, overthrowing the democratically elected government in the country, and detaining its leaders, including State Counsellor Aung San Suu Kyi. The coup has led to massive protests. Feb. 1 statements from President Biden and Senate Minority Leader Mitch McConnell implied strong bi-partisan support for U.S. sanctions if the military does not reverse course quickly. TGA will keep members apprised of the impact of any potential sanctions on the industry and whether the situation on the ground in Myanmar is impacting production. Myanmar is the 4th largest and fastest growing supplier of travel goods to the U.S., growing 66.5% in 2020. Even so, U.S. travel goods imports from Myanmar still account for only 3.8% of total U.S. travel goods imports. Please let us know if your production has been impacted in the country.