July 22, 2005

EU blocks Chinese sweater imports

by brian_turner

The European Commission has blocked Chinese sweater imports after limits on imports were breached. China was permitted to export 69 million sweaters to the EU from 11 June to the end of the year, but the Commission stopped issuing import licenses after 12 July because China had reached its limits. China’s full quota of sweater imports for 2005 was 181.5 million units. This is due to increase to 200 million in 2006.

An EU trade spokeswoman said the issue was being discussed with Chinese authorities and (EU) member states.

China has promised to limit its rapidly growing textile trade with the West, following complaints from officials in Europe and the US that low-priced Chinese imports were damaging their own industries. Leaders in both regions welcomed China’s announcement on Thursday that it was revaluing its currency and allowing a limited float.

The currency changes may make Chinese goods more expensive in Western markets, and prove more effective than quotas in limiting the impact of Chinese textile exports.

Story link: EU blocks Chinese sweater imports

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