The EU is nervous about the expiration of China’s garment import quotas
According to the British Broadcasting Corporation, the EU’s import quotas for Chinese garments will expire at the end of the year, and the EU is stepping up preparations to deal with a possible influx of Chinese garments. The current import quota was reached by the EU and China in 2005. In October this year, the two sides agreed not to extend the quota and instead establish a monitoring mechanism.
The agreement covers 8 products including T-shirts, pullovers, bras, tops and men’s trousers. It will take effect on New Year’s Day next year and will be valid for one year. According to the agreement, once Chinese garments flood into the EU, relevant supervisory agencies will be warned. According to the new method, relevant parties will not impose import caps on textile products from China, but will monitor the actual trade volume.
It is reported that Europe’s trade deficit with China has increased to 86 billion euros in the first seven months of this year. EU Trade Commissioner Mandelson once warned that if China cannot reduce the EU’s trade deficit with China, the EU will be forced to take action to protect itself from the impact of Chinese exports.
The so-called “bra war” broke out between China and Europe in 2005 because China exported a large amount of textiles including bras. Afterwards, China stated that it would restrict textile exports to Europe until the end of 2007. AASDFERHYTJTI
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