Source Pravda.Ru

US and China talks on textile import are to end successfully

US and China are reaching an agreement on deal to regulate surging volumes of Chinese textile shipments that have heightened trade tensions between the two economic powers.

But further talks will be needed to close the deal, said David Spooner, the special negotiator for textiles in the US Trade Representative's office, as a two-day meeting wound down here.

”Both sides are, I think, eager to solve this problem. But both sides say they'd rather take a little more time to reach a good deal rather than a hasty deal,'” he was quoted as saying by Forbes.

At least one additional meeting is planned, most likely before the end of the month in China, Spooner said, adding that both delegations were examining proposals tabled by the other side.

The talks were the result of pressure from the US textile industry for greater certainty over the volume of Chinese imports. As part of its accession to the World Trade Organisation, China agreed to allow its trading partners to restrict the growth of textile imports if a surge of Chinese goods was disrupting their domestic industry. The US has invoked the safeguard against eight Chinese products and decisions will be taken on 11 similar petitions by the end of August, Financial Times reminds.

The USTR’s office said that they would like to tie up a deal by August 31.

US retailers are opposed to further restrictions on imports from China but would welcome the greater certainty that a deal brings. “We want to know that if we place orders, we’ll be able to bring them in,” said Laura Jones, president of the Association of Importers of Textiles and Apparel.

China’s shipped $15bn worth of textiles and clothing to the US last year and this is expected to rise by more than 60 per cent in 2005.

Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA
Comments
North Korea is not a threat to the US
North Korea is not a threat to the US
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
North Korea is not a threat to the US
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
North Korea is not a threat to the US
Donbass without militia will be worse than Srebrenica - Putin
Russia not pulling out from any international agreements, Putin says
USA to ruin Russian-Japanese relationship with the help of Aegis Ashore system
Putin to Sobchak: We will never let them turn Russia into another Ukraine
North Korea is not a threat to the US
Should Russian athletes go to non-Olympic Games in South Korea?
Russia on the eve of another Crimea referendum
Russia to install laser navigation system on the Moon
Russia to install laser navigation system on the Moon
Putin to Sobchak: We will never let them turn Russia into another Ukraine
USA to ruin Russian-Japanese relationship with the help of Aegis Ashore system
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Russia not pulling out from any international agreements, Putin says