NYT/AP: U.S. and China Reach Textile Deal

[DeepModem Mom]

U.S. and China Reach Textile Deal
By THE ASSOCIATED PRESS
Published: November 5, 2005


WASHINGTON (AP) -- The United States and China have reached a tentative agreement to limit imports of Chinese clothing and textile products into the United States, U.S. industry officials said Saturday.

These officials, who spoke on condition of anonymity because the deal has not yet been announced, said it could be signed as early as Tuesday when U.S. Trade Representative Rob Portman and Chinese officials will be in Geneva.

They said that the tentative deal was reached during the fifth round of discussions, which took place over the past week in Washington. Both sides agreed on the major issues, they said, and discussions were continuing on details.

The deal would be similar to an agreement China reached with the 25-nation European Union earlier this year. However, in a victory for U.S. manufacturers, the deal would last through 2008, one year longer than the EU agreement.

U.S. textile and apparel companies and their labor unions have been pushing for a comprehensive deal to stem a flood of Chinese imports that began last January when global quotas, in place for more than three decades, were lifted....


http://www.nytimes.com/aponline/business/AP-US-China-Textiles.html

[madrchsod]

1. maybe this will save the sox industry

from execution here in the usa....