Home / Knowledge / News / President Hu Jintao's Washington visit to solve trade crisis
President Hu Jintao's Washington visit to solve trade crisis
14
Apr '06
Hu Jintao - Chienese President
Hu Jintao - Chienese President
American Manufacturing Trade Action Coalition (AMTAC) said Chinese President Hu Jintao is scheduled to travel to Washington, DC on April 20 to discuss US-China relations.

His visit highlights the crisis in US trade policy in general, and with China in particular.

Last year, the US trade deficit was a staggering $725.8 billion, with China alone responsible for $202 billion in red ink.

This year, while the US trade deficit with China fell in February, AMTAC expects it to rise again for 2006. Meanwhile, 2,885,000 U.S. manufacturing jobs have disappeared since January 2001.

"President Hu's visit highlights the fact that US trade policy is in crisis. The United States ran a record trade deficit in 2005 and China contributed the largest share of the damage."

"This trade deficit is unsustainable and must be staunched in short order," said American Manufacturing Trade Action Coalition (AMTAC) Executive Director Auggie Tantillo.

"China is the lightning rod for much of what is wrong with US trade policy. China manipulates its currency, doles out billions in non-performing loans from state banks, runs roughshod over intellectual property rights, and hands out subsidy after subsidy all with the intent of driving out of business US companies forced to play by free-market rules, yet the US government seemingly is powerless to act," Tantillo continued.

"It is time for the US government to stop coddling China. In the arena of international trade, China is a full-fledged superpower."

Must ReadView All

Textiles | On 27th Aug 2016

French textile machinery makers to show at ITMA CITME

Seven French textile machinery manufacturers will showcase their...

courtesy: JLL

Apparel/Garments | On 27th Aug 2016

Indian cities clocking fastest retail growth: Report

Indian cities such as Bangalore, Hyderabad, Delhi and Pune are...

courtesy: Delta Galil

Fashion | On 27th Aug 2016

VF Corp completes sale of 3 brands to Delta Galil

VF Corporation, a global leader in the design, manufacture, marketing ...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search