Washington: The US and China have reached a tentative agreement on imports of Chinese clothing and textiles, The Washington Post reported on Saturday, citing industry sources.
A few details remained to be ironed out but the agreement was likely to be signed next week by US. Trade Representative Rob Portman and Chinese Commerce Minister Bo Xilai, the newspaper reported.
It said that sources had spoken on the condition of anonymity because they had learned the details from administration officials at a confidential briefing.
The deal would begin on January 1 and last through 2008 a concession by China, which wanted it to expire in 2007.
It would allow imports of most major textile and apparel products from China to increase by 8 to 10 per cent in 2006, by 13 per cent in 2007 and by 17 per cent in 2008 a concession by the US, which had wanted to keep annual growth close to 7.5 per cent, the Post said.
A textile trade pact would relieve a sore spot in the US-China trade relationship before President George W. Bush visits Beijing the middle of this month.
Administration officials did not respond to requests for comment, the paper said.
China's exports of clothing and textiles to the US jumped 54 per cent in the first eight months of 2005 to nearly $17.7 billion, following the end of a global quota system last January 1.
Under China's accession to the World Trade Organization in 2001, Washington can impose ?safeguards? until the end of 2008 if China's textiles are shown to be disrupting the US market. Those cap growth in exports at 7.5 per cent a year.
The US has already imposed safeguard curbs on imports of Chinese shirts, trousers, bras, underwear, yarn and other textile and clothing products.
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