China scraps 17 textile export fees

In a sign of its inability to stem the torrent of its textile exports, China has decided to scrap export duties on 17 types of textiles to Europe, state media reported, citing the Ministry of Finance. Beginning Aug 1, tariffs will be lifted on cotton shirts, knit dresses and wool pants to the European Union. For seven years, China's textile tariff policy has seesawed as the taxes were lifted, then again imposed. The latest move to drop tariffs demonstrates the effectiveness of other, punitive measures by China's trading partners to curb the surge of textile exports.