China to Impose Tariffs on Some Textiles
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China will impose tariffs on some textile exports in a move that may ease frictions with the United States and others over an expected flood of Chinese products on world markets after a global quota system expires at year's end.
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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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Higher costs in China could spell the end of an era of ultra-cheap goods.
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The Senate is likely to pass a bill  aimed at forcing Beijing to change its currency policies by  threatening a 27.5 percent tariff on Chinese exports to the  United States, a top Republican senator said on Thursday.
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The Bush administration, sending another signal that it intends to limit imports of clothing from China next year, announced yesterday that it will consider a request by the US textile industry
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On Friday, just days before the presidential election, the Bush administration agreed to consider a petition from a coalition of embattled textile manufacturers that would limit some imports from China.
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BIG-NAME retailers in the US want to stop the Bush administration from curbing the import of popular Chinese-made apparel and textiles.
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The European Commission proposes tough import tariffs on leather shoes from China and Vietnam.
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China will buy more American-made products and crack down harder on people who steal intellectual property, a Foreign Ministry spokeswoman said yesterday amid growing discontent in the United States over a soaring trade deficit with Beijing.
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China is to put tariffs on textile exports to head off mounting concern that it could flood the market after quotas are abolished next year.
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China is to face greater competition from foreign banks as a WTO deadline to open its markets looms.
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China said it will tax some textile exports and curtail investment in its domestic industry after the US and European Union threatened restrictions on an expected flood of Chinese clothing when quotas expire Jan. 1.
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The move could defuse a confrontation with the Bush administration, which is considering a limit on clothing imports because of fears that China's textile industry will swamp producers in the United States.
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The move is expected to dampen prospects for companies that have focused on taking advantage of the Chinese market.
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Millions of desperately poor workers, particularly women, will lose their jobs next year following the lifting of a global system of textile and clothing tariffs, a leading aid agency warned.
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China has decided to impose duties on its exports of textiles and apparel, a move that could ease worldwide fears that Chinese clothing makers will soon dominate the global market after its liberalization on Jan. 1, according to a report in an authoritative Chinese newspaper.
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China is ready to reduce tariffs and drop barriers for foreign products to enter its market next year, China Radio International reported Tuesday.