China and the US failed to reach a comprehensive textile agreement in a third round of talks but US trade officials said negotiations will resume in October, Reuters reported. Progress was made concerning the range of products the quota would cover but not on issues such as the length of the pact or annual growth rates in quota levels. US textile groups want an agreement that would restrict 30 or more categories of clothing and textile imports from China until 2008. This would coincide with the expiry of the "safeguard" position introduced by the WTO, which allows countries to hold textile imports from China at 7.5% above the previous year.
You must log in to post a comment.