China & US back on negotiating table discussing textiles
27 Sep '05
2 min read
It is back to negotiating table for US and Chinese negotiators as they enter in to third round of textile talks, Monday.
Burdened with thousand of job losses and fearing more to come, members of the US textile industry are a lot pessimistic about the possible comprehensive agreement that may come through the talks.
China, currently smarting under its historic textile unblocking in Europe will definitely look forward to break the trade embargo that has already placed 10 textile categories under leash and few more to come under the Trade Office scanner.
Bluntly said Lloyd Wood, chief spokesman for the American Manufacturing Trade Action Coalition, "If the reports coming out of China are accurate, I think there is almost no chance that a deal gets done. The Chinese are just being unreasonable."
The bleak US textile industry record for this year since the ending of the textile quotas beginning this year speaks clearly: 30,000 jobs losses, 31 textile plants shuttering.
Solution, according to US textile industries then lies at targeting 7.5 percent per year through 2008 of imports in all categories of Chinese textile, apparels, and other clothing categories.
But how will the Chinese take all this lying low when they are bargaining for a 15 percent import growth.
Fortunately for Chinese, the American retailers are rallying behind them to ensure unrestricted entry of Chinese imports and serving their interests as claimed by them, without placing US consumer interests at risk.
marketing@alchempro.com
