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

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

In China, cotton consumption is forecast to expand 4 per cent and...

Courtesy: ZDHC

Textiles | On 24th May 2018

Birla Cellulose, Isko, Lenzing join ZDHC programme

Birla Cellulose, Isko and Lenzing have joined ZDHC Roadmap to Zero...

50 mn Indian internet users buy products online: Report

Apparel/Garments | On 24th May 2018

50 mn Indian internet users buy products online: Report

India has an online population of 500 million but only 50 million...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

C Kamatchisundaram
Voltas

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

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Vikas Banduke

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Jay Ramrakhiani
Occasions Elegance Wear

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

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


May 2018

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

news category


Related Categories:

Advanced Search