Beijing, Washington Settle Textile Dispute
The United States and China have agreed to a deal on the import of mainland clothing and fabric, resolving a bitter trade dispute between the two nations, a major Chinese textile association said.
“Both the US and China have compromised in reaching this textile pact,” China National Textile and Apparel Council spokesman Sun Huaibin said.
“China made concessions on the duration of the quotas, allowing the US to impose controls on access by Chinese textiles and apparel to the American market through 2008, instead of 2007,” Sun said.
Source: Yahoo.
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