follow us

Ross praises textiles quotas

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."

The textiles industry has long and bitterly complained about the flood of inexpensive goods coming from China and earlier filed petitions to trigger a provision in the trade agreement with China that would permit temporary safeguards. The Administration acted under those provisions, citing marketplace disruptions.

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.

Featured Video

Other Home Furnishings Sites

Casual Living
Furniture Today
Gifts and Decorative Accessories
Home Accents Today
Kids Today
HFN - Home Furnishings News