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

Apparel/Garments | On 28th Jul 2017

DuPont launches new stretchable electronic inks, films

DuPont Advanced Materials has announced availability of its newest...

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Suresh Patel
Sidwin Fabric

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

Kevin Nelson
TissueGen

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X