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

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Giorgio Mantovani
Corman S.p.A

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search