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November 09, 2005
U.S., China Reach Textile Deal
The U.S. and China reached a long-sought agreement to limit Chinese clothing and textile imports on Tuesday. The three-year deal will restrict the import of 34 types of apparel and textiles, valued at about $5 billion annually.
The deal was made to protect U.S. suppliers who fear an erosion of their markets from cheaper Asian imports. While the limits are good news for U.S. industry players, some estimate that consumers will wind up spending $10 to $20 more a year for clothing.
Posted by Blacks on November 9, 2005 05:55 PM
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