November 6, 2005 |
The U.S. and China reached a tentative agreement Saturday to cap exports of Chinese clothing to the U.S. over the next three years, textile industry representatives for importers and producers said. The agreement raises the allowable U.S. import growth rate for Chinese pants, knit shirts, bras and other items to 10% in 2006 and to about 16% by 2008, said the officials, who spoke on condition of anonymity. In return, U.S.
October 6, 2005 |
The Bush administration announced that it had accepted petitions from the U.S. textile industry to launch investigations into whether quotas should be imposed on 21 categories of clothing and textile imports from China. The decision further escalates a trade battle between the two nations and is expected to bring more pressure to bear on China to settle the disputes by reaching a comprehensive agreement covering clothing and textile trade to escape further quota cases.
September 16, 2005 |
The U.S. textile industry asked the Bush administration to extend emergency import curbs on billions of dollars' worth of clothing from China beyond 2005, industry representatives said. "The reason we need to do this is because China is refusing to negotiate seriously on a comprehensive bilateral" textile agreement, said Cass Johnson, president of the National Council of Textile Organizations.
August 12, 2005 |
The Bush administration, struggling to deal with America's surging trade deficit with China, announced Thursday that it would begin negotiations aimed at broad restrictions on imports of Chinese clothing and textiles. The news came as Beijing reported that China's cumulative trade surplus for the year rose to $50 billion in July, far exceeding the $32-billion surplus for all of 2004, as tighter credit and spending policies bit into the growth in imports.
June 11, 2005 |
Trade tensions between China and the European Union eased Friday as the two giants agreed to limit the Asian nation's surging textile exports. The accord, however, came amid new signs of growth in China's booming export juggernaut, which has sparked protectionist sentiments in Washington. China's trade surplus nearly doubled to $8.99 billion in May from $4.59 billion in April as exports outgrew imports, the Beijing government reported Friday.
May 20, 2005 |
China will raise export tariffs on 74 classes of clothing and textile products starting June 1, the Finance Ministry said today, a gesture that might help appease Western trading partners. Tariffs on most of those products would rise to 1 yuan (12.1 cents) per unit from 0.2 yuan, with the largest tariff per item at 4 yuan, the ministry said in a statement posted on its website. Products listed included trousers, T-shirts and underwear.