Ross praises textiles quotas
November 18, 2003,
New York — Burlington Industries chairman Wilbur L. Ross today praised the Bush Administration's decision to impose quotas on knit fabrics and two apparel categories in what's being viewed as a step in a developing trade war between the U.S. and China.
"We believe that the real solution to the China problem is to revise the January 1, 2005 quota date to a more gradual phase in over a number of years," Ross said in a prepared statement. "That would give the industry a chance to consolidate and restructure itself to cope with the inevitable globalization."
Ross recently took control of Burlington, which has operations in the U.S., Mexico and India, and a global manufacturing and product development network based in Hong Kong.