US Adjusts Quotas On China's Textile

HONGZE COUNTY, CHINA - AUGUST 18: (CHINA OUT) A worker works on the product line of a textile factory on August 18, 2007 in Hongze County of Jiangsu Province, China. According to state media, pursuant to the Sino-US Memorandum of Understanding concerning Trade in Textile and Apparel Products, signed on November 8, 2005, the US government has adjusted quotas on five types of textile products from China, including certain cotton, wool, man-made fiber, silk blend and other vegetable fiber textiles, starting from August 8, 2007. The 2005 agreement imposed quotas on a total of 21 types of clothing and textiles from China by 2008. It provides for a progressive increase in imports of major textiles from China by 10 to 15 percent in 2006, 12.5 to 16 percent in 2007, and 15 to 17 percent in 2008. (Photo by China Photos/Getty Images)