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Washington Outlook Archive
James A. Morrissey, Washington Correspondent

Congressmen Seek To Address Trade Deficit

James A. Morrissey, Washington Correspondent

As the overall US trade deficit rose to a record $162 billion and the textile and apparel deficit also was at a record level, members of Congress have started to address the issue, and much of the fire is directed at China. A bipartisan group of 48 members of the House of Representatives has signed onto a bill that would revoke China's Normal Trade Relation status and result in higher tariffs on imports. Others are supporting legislation that would levy punitive tariffs of more than 27 percent on Chinese imports to help offset the competitive advantage of China's artificially pegged currency, and congressmen from textile manufacturing states are pressuring the administration to move quickly on petitions filed by the domestic industry to impose quotas on Chinese textile and apparel imports.

February 2005