US-China Sign Textile Deal (And Ignore Currency Debate)
LONDON (AP) - The U.S. and China signed a deal Tuesday limiting imports of Chinese clothing and textile products into the United States, ending three months of negotiations over the thorny issue. […] "I believe this textile agreement is an example of how the United States and China do have the ability to resolve tough trade disputes in a manner that benefits both countries," he said.
And not reported: China still will not re-value the Yuan, upping its value closer to the dollar. Very “Win-Win” wouldn’t you say? Washington can appease the textile industry and secure support, while they don’t actually have to anger China or fix the current trade deficit we have with them.
And not reported: China still will not re-value the Yuan, upping its value closer to the dollar. Very “Win-Win” wouldn’t you say? Washington can appease the textile industry and secure support, while they don’t actually have to anger China or fix the current trade deficit we have with them.