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US, China expected to sign textile deal today
(Reuters)
Updated: 2005-11-08 09:05 SEEKING COMPREHENSIVE PACT
The Bush administration has imposed safeguard curbs on billions of dollar of
Chinese clothing imports this year. But because the curbs have to be renewed
annually, textile groups have pushed for a comprehensive agreement that would
limit imports through 2008, when the safeguard provision expires.
Cass Johnson, president of the National Council of Textile Organizations,
said on Sunday the new textile agreement was expected to restrict 34 categories
of clothing and textile imports from China through 2008.
China is expected to "receive only a minimal increase -- 3.8 percent ... --
in market access in the 14 largest and most sensitive textile apparel categories
as compared to the use of the safeguard," Johnson said.
The quotas for those 14 categories -- which include trousers, shirts, knits,
underwear and bras -- are expected to grow 5.5 percent in 2006, 7.8 percent in
2007 and 10.3 percent in 2008, compared to 7.5 percent annually under the
safeguard.
Growth rates in the other 20 categories are expected to average about 10
percent to 12 percent in 2006, 12 percent to 15 percent in 2007 and 16 percent
in 2008, an industry official said.
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