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Platinax Internet >> Platinax Internet News
« Nintendo Revolution unveiled | Main | Bank of England retains interest rate » May 18, 2005EU faces off on Chinese textile imports
The European Union is hoping to start urgent talks with Beijing, on restricting the import of Chinese textiles. Global quotas on these goods ended in January, leading to a sudden increase in exports to both the EU and US. An inquiry by Peter Mandleson, the EU Trade Commissioner, found that the imports were a substantial threat to T-shirt and flax yarn makers and said that limits would be imposed unless China urgently addressed the problem. On Tuesday, President Bush said that China must adhere to international trade rules. The US has re-imposed quotas on certain Chinese imports, including cotton shirts and underwear, following pressure from manufacturers concerned that the cheap imports could lead to job losses in the US textile industry. The EU is investigating nine categories of Chinese textile imports. Since the beginning of 2005, Chinese sales of T-shirts in the EU have increased by 187% and flax yarn sales by 56%. Under the rules of the World Trade Organisation, of which China is a member, the EU could impose temporary limits on Chinese textile goods from 15 days of the start of formal talks. Although the EU's inquiry began on 29 April and must run for 60 days, formal talks would allow it to speed up the imposition of sanctions. Temporary sanctions would stay in place until the end of 2005. Chinese competition is also adversely affecting textile manufactures in other EU countries and in developing countries including Pakistan, Sri Lanka and Bangladesh. Posted by at May 18, 2005 08:28 PM > Discuss this in the Platinax Internet business forums |
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