Textile Conflict Not Resolved Between China and U.S.

During annual trade talks, the United States and China made some progress, but did not exactly resolve the textile export conflict that has been going on between the two countries. China and the U.S. did sign some smaller agreements in relation to other areas of trade such as agriculture and bio-technology, and banking. The U.S. agreed to provide $3 Million to fund training programs in these areas in China in the civil aviation and petro-chemical sectors. The real issue at hand, however, is that the two countries just can't see eye to eye on what to do about Chinese textile exports. The U.S. has been pressuring China to put limits on its textile exports, due to claims that U.S. manufacturing jobs suffer because of them. In June, China reached an agreement with the EU over similar issues and placed limits on 10 types of its textile exports. The U.S. has been considering placing tariffs on imports from China, though Fed Chairman Alan Greenspan has advised against it. AFX News Limited latest ebusiness news