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.
Source: China daily
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