Source Pravda.Ru

China announced a trade war

China announced the would remove the self imposed export tariffs on their textile industries claiming their products couldn`t be put under a second layer of pressures after the U.S. and the E.U. announced plans for protective trade actions against the textile industry of the most heavily populated nation on the planet.

Chinese Commerce Minister &to=http:// english.pravda.ru/diplomatic/2001/05/29/6166.html ' target=_blank>Bo Xilai met with reporters on Monday to discuss the trade war that appear to be happening. He went on to say China couldn`t tax products already penalized by the EU and the U.S. This comes as the U.S. Commerce Secretary Carlos Gutierrez prepares to visit China to discuss narrowing the U.S. trade deficit.

The U.S. and the EU have charged China`s not following the rules regarding and is disrupting markets based on &to=http:// english.pravda.ru/diplomatic/2002/11/20/39739.html ' target=_blank>World Trade Organization (WTO) rules. Tariffs and import restrictions recently lifted and had begun to create problems for textile companies in both the U.S. and EU, informs WebProNews.

According to VOA News, China says it will cancel tariffs on 81 categories of textile products that the United States and the European Union have moved to restrict. He challenges Washington and Brussels to prove that rising Chinese imports resulted in market disruption under World Trade Organization rules.

The Chinese action comes ahead of a visit this week by new U.S. Commerce Secretary Carlos Gutierrez, who is expected to focus on the rising U.S. trade deficit with China.

U.S. Embassy officials had no immediate comment following the Chinese government` announcement Monday.

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