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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3603)	10/31/2004 12:45:48 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China warns US against import ban Beijing China has urged the US government not to limit imports of Chinese cotton trousers, warning such moves would violate WTO principles of free textile trade and hurt trade relations. The Ministry of Commerce said during the weekend it "opposed" the US decision last week to accept a petition by the US textile industry and consider imposing quotas on imports of Chinese-made pants. The application was the second move targetting Chinese textile products within a week. China fears the US will repeat similar action it took recently against Chinese socks. "The Chinese government ... reserves the rights to take further actions under the framework of the World Trade Organisation," the ministry's spokesman Chong Quan said in a statement late yesterday. "This will severely frustrate the Chinese confidence in the international trade environment after its WTO accession and also harm the interests of US cotton growers, consumers, importers, fabric machinery makers and US investors in China," Chong said. The Chinese government urges the US government to handle such cases "cautiously" and "amend its errors" to avoid damaging Sino-US trade relations, Chong said. The US government decided in October Chinese imports of socks were disrupting the US market and that the one-year-maximum cap of 7.5 per cent in import growth would start as soon as the United States sought talks with China on the dispute. US textile makers are planning to file a series of such petitions covering several categories of products in an effort to limit what they expect to be an avalanche of Chinese textile imports after WTO global quotas on textiles expire on January 1. China is one of the countries that stands to gain the most from the lifting of the quotas. Trade has become a major issue in the campaign for America's November 2 election, with pressure mounting on the US administration to take a tougher line as the trade deficit with China hit a record $US124 billion ($A166.55 billion) last year and has already passed $US140 billion ($A188.05 billion) this year. - AFP theage.com.au