Looks like we have reached a deal with China regarding textiles:
The U.S. and China signed a deal Tuesday limiting imports of Chinese clothing and textile products into the United States, ending three months of negotiations over the thorny issue.
U.S. Trade Representative Rob Portman and Chinese Commerce Minister Bo Xilai both described the deal as a “win-win” following a final round of talks here, but Bo later added that it was a “far cry” from China’s original expectations…
Auggie Tantillo, executive director of the American Trade Action Coalition, another industry group representing textile and clothing manufacturers, said, “U.S. textile and apparel manufacturing workers and their communities are big winners today. This bilateral agreement represents a necessary and welcome step towards addressing China’s unfair trade practices and highly disruptive levels of trade.”
But representatives of American retailers expressed disappointment with what they saw as overly restrictive limits on future imports.
“Instead of terms that ensure that there is a true transition to unrestricted trade after 2008, the agreement imposes tight quotas on the products of greatest importance to American families: shirts, pants and underwear,” said Laura E. Jones, executive director of the U.S. Association of Importers of Textiles and Apparel.
Bo said the agreement was concluded after “practical and equal negotiations” and provided a “predictable and stable environment” for the textile industries in both China and the United States.
I have not been following this issue, and I do not know if these negotiations were the result of China ‘dumping’ subsidized textiles, or what the background is. If you have any information, pass it on, please.