China to impose tax to limit its textile exports
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Beijing - China said yesterday that it would impose a new tax on textile exports, responding to US and European pressure to limit them amid fears that low-cost Chinese textiles would flood markets abroad when global quotas expired next month.
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The expiration of WTO textile quotas at the end of 2004 is expected to jeopardize jobs in some of the world's poorest places as the textile industry uproots to consolidate in low-cost China.
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It is sad for company executives to curb business growth themselves. But the curbing of growth is now being hotly debated among Chinese textile producers, reported China Daily on Tuesday.
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Textile importers and retailers have sued the US Government to block a proposed limit on imports from China. Producers have asked for textile quotas because they say Chinese imports will damage the domestic industry.
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US officials visiting Beijing this weekend will press China to limit textile exports and crack down harder on piracy, reflecting pressure for trade concessions ahead of US elections in November, economists and trade lawyers said.
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The United States and Mexico have argued that Chinaâs tax refunds, reductions and exemptions discriminate against imported products or subsidize Chinese exports.
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The US textile industry said yesterday that it is formally asking the Bush administration to cap China&#39;s shipments of trousers, shirts, sheets and other textile items to the United States, warning
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Proposed legislation aims to forcing penalties on China over its policy of suppressing the value of its currency to promote exports.
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A top U.S. commerce official said he told China to expect American textile makers to seek new limits on Chinese imports as soon as next week, as he also urged Beijing to do more to stop piracy and lower trade barriers.
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Beijing, Oct. 31. (PTI): China has asked the US not to &quot;sabotage&quot; booming bilateral trade ties by limiting imports of cotton trousers made by manufacturers of the Communist nation.
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TORONTO (CP) - The end of trade quotas under a 30-year-old treaty won't radically transform the flow of apparel exports and imports, the head of China's clothing industry said Thursday.
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The Bush administration yesterday agreed to consider new quotas on five categories of Chinese-made clothing, a step toward protecting domestic manufacturers from cheaper imports.
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NEW YORK - US clothing sellers are suing the US government to force the government to stop imposing limits on Chinese textile imports.
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China's promise to impose taxes on some textile exports will do little to sway the administration on whether to limit the expected flood of Chinese goods next year.
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Beijing this weekend urged Washington, DC, not to limit imports of Chinese cotton slacks. The Ministry of Commerce said such a restriction would violate World Trade Organization principles and hurt trade relations.
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China on Tuesday lashed out a US decision to limit imports of socks made in China, saying China will &quot;retain the right to take further actions&quot; within the World Trade Organization
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Bangladeshi garment exporters are poised to breathe a sigh of relief as China has decided to impose tariffs on some of its textile export items in preparation of the upcoming global textile quota phase-out.