EU gets set to block China textiles

The European Union is preparing to block mainland textile imports by reducing paperwork local producers have to complete to file dumping complaints after export quotas are lifted January 1, Dow Jones reported. The EU has 180,000 firms to protect and some of them have been urging authorities to raise barriers quicker than current practice allows. Arresting inflows of offending goods now takes up to 15 months. Beijing reportedly plans to tax exports 2-6%, but EU officials say that won't do and have already warned retailers that short-term quotas against some mainland products will be imposed from next month.