This bilateral agreement represents a necessary and welcome step towards addressing China's unfair trade practices and highly disruptive levels of textile trade.
The United States can no longer allow China to use predatory trade practices to destroy U.S. jobs and factories.
China's proposal is still unacceptable to the US textile industry in terms of breadth of coverage and in length -- number of years covered.
It is long past time for US policymakers to recognize that China is a superpower in terms of international trade.
The reason that the Chinese have dropped their prices so much is that they are engaged in predatory activity in an attempt to wipe out all other competition.
Our understanding is that there was absolutely no progress. A mutual agreement does not appear to be on the cards in the near future.
These filings show the Chinese that if you don't make progress, we are going to exercise our rights. We are going to moderate trade.
Manipulated currency, non-performing loans made by Chinese state-run banks, intellectual property theft and other state-sponsored subsidies are the driving forces behind the job-destroying US trade deficit with China.
If China isn't moving, then the right thing to do is go home.
We maintain our long-standing position that while the textile industry wants a comprehensive agreement, any agreement must be in the industry's best interest. No deal is better than a bad deal.
