The Bush administration said it would impose new import quotas on Chinese textiles in a move aimed at protecting American jobs, especially in the politically important southern US states, in the run-up to next year’s presidential election.
The government announced that the precise import quota would not be known until negotiations were completed with Beijing, which could last up to three months.
Under trade rules with China, the US can limit Chinese shipments of brassieres, knit fabrics and dressing gowns at 7.5 percent above shipments over the past year or so.
The quota announcement caused the US dollar to fall against all major currencies on fears of growing US trade protectionism.
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