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US, China Reach Tentative Agreement on Textiles


The United States and China have reportedly reached a tentative agreement on imported Chinese textiles.

News reports in the Washington Post and by Bloomberg Business News cite unnamed sources who say negotiators have agreed to allow U.S. imports of Chinese textile and apparel products to increase up to 10 percent in 2006 and 16 percent in 2007.

While the accord is not yet complete, the sources say the agreement could be signed as soon as next week.

Washington and Beijing have been trying for a comprehensive agreement on Chinese exports that compete with U.S. made clothing and textiles.

The issue flared because of a surge in Chinese exports to the United States after textile quotas were lifted at the start of the year.

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