|US may limit sock imports from China(25/10/04)|
The Bush administration of the United States announces it may restrict imports of socks from China ahead of the November 2 election.
The US textile industry groups have complained that the sock imports is seriously disrupting the U.S. market.
The socks imported from China have increased from $8.8 million to $170 million from 2001 to 2003.
A potential quota may lead to a big drop of U.S. imports of socks from China, slowing an increase between 6 percent and 7.5 percent over current import levels.
China exports less than 1 million dozen pair of socks in 2001. But the figure rose to 22 million in 2003, and to 42 million in the most recent 12 months ending in August 2004.
Besides socks, the US textile industry asks for more protection in other textile products as worldwide quotas will be removed under the World Trade Organization rules.