| Report: US, China agree on textile imports |
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| Saturday,November 05,2005 Posted: 16:23 BJT(0823 GMT) China Daily |
China and the United States have reached a tentative agreement on imports of Chinese clothing and fabric, the Washinigton Post reported Saturday.
The deal is expected to resolve a festering dispute between the two nations, the newspaper cited industry sources as saying.
The deal would begin on Jan. 1 and last through 2008 -- a concession by China, which wanted it to expire in 2007, a anonymous source was quoted as saying.
It would allow imports of most major textile and apparel products from China to increase by 8 to 10 percent in 2006, by 13 percent in 2007 and by 17 percent in 2008 -- a concession by the United States, which had proposed keeping annual growth close to 7.5 percent, according to the Post.
Although a few details remain to be resolved, the agreement is likely to be signed next week by U.S. Trade Representative Rob Portman and Chinese Commerce Minister Bo Xilai, the report said.
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