Davis Spooner, the leader of the US side in negotiations with the Chinese over restricting Chinese textiles imports announced, "The third round of talks with the Chinese aimed at reaching a broader agreement on textiles will continue this evening.”
Though sounding optimistic, the Chinese seem tough negotiators at that, and more so, when their own textile industry has been preparing for exiting of textile quotas begining January 1, 2005.
Sources say that US Trade Reprsentative Rob Portman is keenly following the proceedings, and is said to have met the head of the Chinese delegation, spelling out urgency at arrival of mutaully acceptable solution.
Meanwhile, industry watch dog are anxiously awaiting the final outcome that has eluded the two parties for quite sometime now.
Aboviously at stake are US jobs and consumer interests that have to be contended with, while US negotiators hammer out issues borne out of surge in import of shirts, pants, bras, underwear and other clothing from China, since January 1, 2005.
As a last resolve, US industry sought to cap Chinese textile imports down to 7.5 percent in almost 30 categories of textile products till 2008, fearing collapse of domestic industries.
marketing@alchempro.com
