US likely to impose textile restrictions

The US may impose so-called "safeguard quotas" on Chinese socks hosiery and gloves in 2004, according to a South China Morning Post report. The report said that deputy assistant secretary for the US Department of Commerce James Leonard said that few such quotas were likely to be introduced this year, but that there was a high likelihood that many US textile firms would file petitions for new quotas in 2005. The safeguard quotas were agreed to by China during World Trade Organization accession talks with the US, and will expire in 2008.