U.S. Textile Industry Chimes In On Agreement

November 9, 2005 on 3:08 am | In World Textiles | Karen's Korner
Paraphrasing the president of the National Council of Textile Organisations, “this only pushes the Chinese threat further out.”

The crux of the agreement between China & the U.S. is that imports will resume at a faster pace than the 7.5% the fed set earlier in the year. This will occur for three years, one year beyond the WTO ruling for countries to place limitations on Chinese imports. We’ll just have to wait and see … the WTO has it’s work cut out for itself on all fronts of global trade. For a comprehensive overview of the U.S. textile industry’s response/concern please read this Forbes.com article.

The actual allowances are:
10 percent import growth in clothing products
12.5 percent import growth in textile products in 2006.
These allowances increase 12.5 percent in 2007.
Followed by another increase of 15 to 16 percent in 2008.

…Watch out for 2009!!
"Shift Can Happen"
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