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Online Stock Market Trading Facing pressure from WTO member countries, the Chinese government has said it will impose duties on textiles bound for export.

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Stock Investing Game Dec 13, 2004 (AXcess News) Beijing - Facing pressure from WTO member countries, the Chinese government has said it will impose duties on textiles bound for export.Decades-long quotas that have governed the apparel trade will be lifted on January 1, according to the 1995 Agreement on Textiles and Clothing.

After imposing tariffs on paper imports from China, the Bush administration takes a step further in its fight against what it defines as "trade imbalances" caused by the Chinese trade policy.

Journal Prime Rate Street Wall Ministry of Commerce spokesman Chong Quan said, "We will impose export duties on certain textile products."Quan went on to say that China would tax its own textile goods based on volume rather than value as a way to encourage the production of higher-end textiles.

Investors may be in for more surprises when the next jobless report is released, considering the soft holiday sales for retailers and the disappointed merchants who supply them. Continuing pressure from the World Trade Organization over the U.S. tariffs imposed unfairly on foreign manufacturers still hangs over the Bush Administration and could push costs up while curtailing some exports. Any limitations of that nature could create more

Stock Market News Last month a U.S. textile-industry lobby group persuaded the Commerce Department to look into banning the import of certain Cotton yarn imports because it was damaging U.S. markets. But the U.S. is not alone, the European Union has also asked the Chinese government to restrict foreign sales after quotas under the 1995 agreement are lifted.Advertisement

Stock Investing Basics Under the WTO agreement China could feasibly capture over 50% of the world's textile business. But under a 'safeguard arrangement' the United States or other World Trade Organization countries could ban import of clothing or textiles if those sales were found to threaten domestic markets.

Stock Investing Software In the U.S., textiles are a $350 billion industry. Ministry of Commerce spokesman, Quan, did not say when the tariff would be imposed.

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