Chinese import gains of as much as four-digit percentages in some textile categories since quotas on textile imports fully lifted on January 1.
Brussels most recently upped the ante, unveiling data that showed a "dramatic" surge in imports across a wide range of apparel made in China and promising a probe into first-quarter imports of stockings, socks, blouses, bras, T-shirts and other times worth $1.4 billion, the Financial Times reports. Imports of sweaters alone rose more than fivefold since quotas on textile imports were fully lifted Jan. 1. The skyrocketing increases -- Chinese data have showed gains of as much as four-digit percentages in some textile categories -- appeared to support the worst fears of U.S. and European textile makers, which say thousands of jobs are at stake, The Wall Street Journal notes.
(4-25-05, The Wall Street Journal online.)