The Ministry of Commerce announced it would impose tariffs on some textile exports – a move that could help avert a trade fight with the United States and the European Union when textile quotas are lifted at yearend. The announcement did not specify the level of the export taxes or what textiles would be taxed. Instead, it said the duty would be calculated based on the quantity of the export rather than the value of the goods in order to "encourage high-end textiles." China has been under growing pressure from the Bush administration which has expressed concern about a flood of cheap Chinese-made goods entering the US when quotas end, driving American producers out of business.
You must log in to post a comment.