EU and China in textile truce

From The Financial Times: The European Union and China on Friday stepped back from a potentially bitter trade dispute by negotiating a three-year “transitional arrangement” for the import of Chinese textiles to Europe. The two sides agreed to limit the increase in Chinese textile imports in each of the next three years before the trade is fully liberalised in 2008. See also: China, EU reach deal to settle textile dispute from Xinhua. ...
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