Home / Knowledge / News / Textiles / Take tough stance on China's exchange rate policy – Trade bodies
Take tough stance on China's exchange rate policy – Trade bodies
08
Oct '09
The US textile and steel industry have called upon the Obama administration to take a tough stance on China's exchange rate measures, while other groups say that China's promised trade reform is behind schedule.

"The US government should hold China responsible for manipulating its exchange rate and the government should support legislation that would allow US industry to protect themselves and their employees," said Cass Johnson, President of the National Council of Textile Organization.

US manufacturers hold a grouse against China, that it deliberately undervalues its RMB exchange rate, in order to obtain price advantage in overseas trade. The US Treasury Department is expected to make a ruling on this subject on October 15, when the US will announce the report of exchange rate measures of its major trading partners.

Mr Barry Solarz, Vice-President of American Iron and Steel Association said that Obama should "adopt a more proactive step on China by denouncing China's manipulation of its exchange rate, Obama should resort to legal action in the World Trade Organization (WTO) to protect the rights of the United States.”

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

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

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
January 2017

January 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