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US cites progress toward China textile pact
(Reuters)
Updated: 2005-11-03 11:26
WASHINGTON - The United States and China have made "substantial progress"
toward an agreement to rein in China's booming textile and clothing exports to
the United States through the end of 2008, U.S. trade officials said on
Wednesday.
A shop assistant
puts socks on mannequin feet in a store in Beijing in this undated file
photo. The US government said it had made 'substantial progress' in a
fresh round of talks with China in a bid to forge a comprehensive
agreement on textiles trade. [AFP] | They said the
two sides also signed a short-term deal covering sock imports for the rest of
this year.
"Our discussions this week have yielded substantial progress on a large
number of issues. We look forward to meeting again soon," lead U.S. textile
negotiator David Spooner said in a statement.
An agreement would relieve a sore spot in the U.S.-China trade relationship
before President George W. Bush visits Beijing in the middle of this month.
This week's meetings in Washington were the fifth round of talks on a
possible agreement governing Chinese textile and clothing shipments to the
United States.
China's exports of those products to the United States jumped 54 percent in
the first eight months of 2005 to nearly $17.7 billion, following the end of a
global quota system last January 1.
Under China's accession to the World Trade Organization in 2001, Washington
can impose "safeguards" until the end of 2008 if China's textiles are shown to
be disrupting the U.S. market. Those cap growth in exports at 7.5 percent a
year.
The United States has already imposed safeguard curbs on imports of Chinese
shirts, trousers, bras, underwear, yarn and other textile and clothing products.
To provide certainty for importers and domestic manufacturers, industry
groups have pushed for a comprehensive deal similar to one negotiated by the
European Union.
In a sign the United States and China could be on the verge of a pact, the
Bush administration said it was delaying a decision on whether to impose
safeguard curbs on certain shirts, blouses, skirts, pajamas and swimwear until
November 8.
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