EU, China Strike Agreement to End Textile Stalemate – Bloomberg
The European Union and China reached an agreement to end a stalemate that has left 400 million euros ($502 million) of Chinese garments stranded at European ports.
“The EU and China will share responsibility for the goods which are blocked,” Simon Fraser, chief of staff to European Trade Commissioner Peter Mandelson, told journalists in Brussels. “Fifty percent will be taken by the EU and 50 percent will be counted against 2006 quotas.”
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