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China:China warns US & EU to swab decision for textile tariffs |
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2005-5-25
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China announced that it would not impose tariffs on the exports of textiles products if the US and the EU formally carry out restrictions on any of these categories
US have accused China for surging cheap textiles in the markets that ruined the relations between the trading partners.
China decided to increase export tariffs on goods in 74 categories by as much as five times to retain trade relations.
The EU been positive in its approach to China and has insisted that it wants to talk with Beijing to find a resolution for the textile industry dilemma.
EU intends to launch formal consultations with China under WTO rules relating to the import of T-shirts and flax-yarn.
As per WTO agreement, the EU could re-impose quotas within 15 days of the formal start of negotiations if China fails to restrain its exports.
According to EU and US reports, imports from China have flooded their domestic markets with cheap textiles, which has resulted in disruption and thousands of job-losses since ending of MFA in January this year |
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