China Increases Subsidies To Infuriate American Textile Companies
The quota of Chinese made garments and textiles is about to end by the end of the year. A US National Trade Organization is urging the Obama administration to take measures to resist the unfair trade practices of the Asian giants.
NCTO said that in recent weeks, China has raised the export tax rebate rate of clothing and shoes for local enterprises. Since July, China has raised the export tax rebate rate of clothing and textiles from 11% to 17%.
The last time to raise the rebate rate was November 20th.
The US National Textile Organization Committee (NCTO) calculated that subsidies for Chinese clothing and textile exporters increased from $19 billion to $29 billion.
Cass Johnson, President of NCTO, said in a statement that China will substantially raise the export tax rebate rate before the quota is abolished. The US government and the US Congress can not ignore the practice of China's concentrated firepower to expand exports.
The Washington based trade organization hopes that if the surge in imports after the quota ends, the Obama administration will automatically implement trade compensation measures against China.
Yang Jing: editor in charge
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