Monday, May 30, 2005
China has revoked a plan to sharply raise export taxes on textiles in its trade dispute with the United States.
Basically, it's a trade war. Here are some more articles, all with more or less the same content.
China to scrap textile export taxes
China said on Monday it would abolish export tariffs on 78 lines of clothing and textiles, keeping its promise to roll back the taxes if Western countries threw up barriers against its goods.
And China blasts 'protectionist' EU signals over textiles
"China is very dissatisfied with this," commerce ministry spokesman Chong Quan said in a statement posted on the ministry's website, criticizing the EU's call for formal talks.
The European Commission said Friday it had asked the Chinese authorities for formal consultations on flax yarn and T-shirts, bringing the EU a step closer to imposing limits.
Under World Trade Organization (WTO) rules, China must now take steps to drastically limit the export of the two types of clothing.
They are to fall to "a level no greater than 7.5 percent above the amount that entered the EU market during the period from March 2004 to February 2005."
Beijing has 15 days to take the measures, failing which Brussels is entitled to slap its own limits on Chinese textiles.
China to scrap textile export taxes
China said on Monday it would abolish export tariffs on 78 lines of clothing and textiles, keeping its promise to roll back the taxes if Western countries threw up barriers against its goods.
And China blasts 'protectionist' EU signals over textiles
"China is very dissatisfied with this," commerce ministry spokesman Chong Quan said in a statement posted on the ministry's website, criticizing the EU's call for formal talks.
The European Commission said Friday it had asked the Chinese authorities for formal consultations on flax yarn and T-shirts, bringing the EU a step closer to imposing limits.
Under World Trade Organization (WTO) rules, China must now take steps to drastically limit the export of the two types of clothing.
They are to fall to "a level no greater than 7.5 percent above the amount that entered the EU market during the period from March 2004 to February 2005."
Beijing has 15 days to take the measures, failing which Brussels is entitled to slap its own limits on Chinese textiles.
