China on the verge to purge textile tariffs on 81 categories
30 May '05
1 min read
china announced monday that it will remove export tariffs on 81 categories of textile products and scrap scheduled tariff increases on 74 types of textiles as trade friction with the eu and us accelerated.
with the decision effective from 1st june 2005, the finance ministry said china will "stop imposing export tariffs on 78 categories among 148 categories of textiles where restrictions over export tariffs were imposed in january," at the end of the global textile quota system, explained the ministry.
it added that tariffs would go on flax yarn and two other products announced earlier.
"and at the same time (china will) cancel export tariff increases on relative products that were to be imposed in june," said the statement.
to ease the tension with the eu and the us about surge in chinese textile exports, china had previously announced it would raise export tariffs on 74 categories of textile products from june 1.
china also expressed surprise that though its trade partners were aware of the expiry of the global textile quotas under a 1995 agreement, yet they were unprepared for it.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
