EU and China To Have Formal Talks Regarding Textile Industry

The growing tension over trade between China and the European Union may be boosted soon, as the EU wants to have formal talks with China about its textile exports. The European Union and United States have both been losing patience with China as textiles from the country have flooded both European and American markets. Last week, China said that it would raise tariffs on 74 categories of textile exports in an effort to ease concern from the European Union and United States, but neither were satisfied with this move. "This has found broad support among an overwhelming majority of our member states," said EU trade chief Peter Mandelson regarding the proposed talks. "I want to find a mutually satisfactory agreement with the Chinese authorities." AFX News Limited Murdok. Visit Murdok for the