Home / Knowledge / News / Textiles / Industry takes aim at China in 2008, NCTO
Industry takes aim at China in 2008, NCTO
16
Feb '08
In its 2007 year-end textile trade and economic review, the National Council of Textile Organizations (NCTO) cited the Commerce Department's decision to overturn a 20-year precedent and allow companies to file subsidy cases against China as one of the most significant events for all U.S. manufacturers in 2007.

This decision is important because at the end of 2008, the current U.S.-China textile agreement expires and the industry will be seeking new restraints to prevent a devastating flood of subsidized textile and apparel products from China in 2009.

Other events of significance to the industry in 2007 include the implementation of the Vietnam monitoring program and the passage of China currency legislation by two major Senate committees.

NCTO Chairman Harding Stowe commented, “2007 was a transitional year for the U.S. textile industry. As imports from China continued to surge and DR-CAFTA entered into force for all the major textile and apparel producing countries, the industry worked to secure trade opportunities in this hemisphere as one part of a strategy for remaining competitive against China. We also began looking ahead to 2008 and preparing for the expiration of the U.S.-China textile agreement.

Let's take a look at the hard facts of our trade relationship with China. In 2007, the U.S. trade deficit with China was $256.2 billion, up 10 percent compared to 2006. With respect to textiles and apparel, the U.S. trade deficit with China grew from $26.6 billion in 2006 to almost $31.8 billion in 2007.

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

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

Sonam & Paras Modi
SVA

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search