Textil traded deficit hits all-time high

Laws, Forrest
March 2005
Southeast Farm Press;3/2/2005, Vol. 32 Issue 7, p4
Trade Publication
The article reports that the U.S. textile trade deficit rose to an all-time high of $73.1 billion in the year 2004, leading textile manufacturing groups to question how high it will be in 2005 if the U.S. Administration doesn't invoke safeguard provisions soon. The increase in the textile trade deficit, which accounted for nearly 12 percent of the total 2004 U.S. trade deficit of $617.7 billion, also a record, occurred while textile import quotas were still in place for most categories of textile and apparel entering the U.S. Those quotas expired January 1. Textile and other manufacturing groups seized on the new numbers to complain that the administration isn't doing enough to slow the How of imports and stop the loss of U.S. manufacturing jobs.


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