NCTO Welcomes U.S.-China MOU To Terminate Chinese Export Subsidies

WASHINGTON — April 14, 2016 — The National Council of Textile Organizations (NCTO) applauded today’s announcement of a memorandum of understanding (MOU) between the United States and China with respect to an agreement by China to terminate export subsidies under its “Demonstration Bases-Common Services Platform.”

“We thank the Obama administration for working diligently to construct an arrangement to eliminate these subsidies which directly damage U.S. manufacturing jobs, output and investment,” said NCTO CEO & President Augustine Tantillo.

“There is no doubt that China’s rise to become the world’s largest exporter of textile and apparel products has been aided by a pervasive series of illegal state-sponsored subsidies,” Tantillo continued.

“These subsidies are clearly inconsistent with the rules of the World Trade Organization, and they are unfair to domestic textile manufacturers and the hundreds of thousands of U.S. workers they employ,” Tantillo added.

“Our companies must play by free-market rules, and it is time that Chinese textile manufacturers do the same,” Tantillo concluded.

Posted April 15, 2016

Source: NCTO