20
S.C.M. POST, SATURDAY, FEBRUARY 1, 1969
BUSINESS
NEWS
X
NIXON MAY ACT ON TEXTILE IMPORTS
Far East textile mills are believed to be seeking all the in- formation they can get from friends in the United States on reports that President Richard Nixon may initiate action to get bilateral agreements covering American imports of textiles made from syn- thetics, wool or blends of natural and man-made fibres.
made from man-made fibres | specific. relief from import and woollen knitwear.
difficulties for two indus-
steel and textiles. Rep Mills (Dem, Ark) has
Currently, Hongkong mills tries are in the process of planning
The reports, which first came up in December and are being given further currency, say Mr Nixon has given undertakings to install even more spindles always been philosophically to do this to the U.S.' which showed a considerable which are a more restrictive to handle synthetic yarns, opposed to import quotas, textiles industry and Con- advance in production of form of trade barrier textiles here last year.
than high tariffs. But he has been under heavy pressure from fellow Representatives variety of products. pressing for quotas on #
gress.
Quotas
even
The aim would appear to be to bring these other textiles into line with the According to one Washing- bilateral agreements govern- ton report in a New York ing U.S. imports of cotton newspaper, during December
There has been more Con- textiles.
an "informal understanding" gressional sponsorship, in The move could have an tween Mr Nixon and Repre- been the case with any othe: was apparently reached be- both Senate and House, ot
textile quota bills than effect
has on Hongkong's U.S. sentative Wilbur trade, because in recent years Chairman
Mills, Hongkong has increased its Representatives
of the House of product. exports of synthetic and Means Committee, on woollen products to the U.S. handling this In fact, textile industry "delicate sources here note, last year the U.S. took 60 and 40 per tiles. cent respectively of all the In his election campaign, is no such agreement, legis-w Colony's exports of clothes President Nixon pledged lated quotas are inevitable.
Ways and Negotiating a voluntary in-
the year of the issue" of import
&
ternational
agreement on woollens, synthetics
and/c blends will not be easy. But it is likely that
the C
quotas, particularly of tex- Nixon Administration nego-
tlators will argue that if there
AKK
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