US sets new tariffs on Chinese textiles
New York, September 2:
Washington imposed curbs on two further types of Chinese textile imports, only hours after talks aimed at settling a simmering trade dispute ended in failure. The inability to reach a compromise in attempts to slow the surge of Chinese clothing entering the United States underlines a growing friction between the two countries.Chinese president Hu Jintao is making a visit
to the White House next week in the hope of defusing the tension arising from trade issues, Beijing’s growing military strength, political issues like Taiwan and its increasing energy needs. The talks in Beijing ended early yesterday after three days of brokering. In a statement, US delegation leader David Spooner said, “Despite our best efforts we were not able to reach a broader agreement.’’ He said the two sides would discuss a venue in the next few days for a fresh round of talks. Chinese exports have surged since quotas governing worldwide textile sales were abolished.