XN000022-1983-12-30 — Page 3

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FRIDAY, DECEMBER 30, 1983

U.S. EXERCISES TEXTILE CONVERSION RIGHT

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THE DIRECTOR OF TRADE, MR HAMISH MACLEOD, ANNOUNCED TODAY (FRIDAY) THAT THE U.S. GOVERNMENT HAD EXERCISED ITS RIGHT UNDER THE HK-US TEXTILE AGREEMENT TO CONVERT 13 CATEGORIES OF TEXTILE PRODUCTS +CALLED+ DURING 1983 INTO SPECIFIC-LIMIT CATEGORIES

IN 1984.

THE 13 CATEGORIES, AND THE 1984 RESTRAINT LIMITS, ARE:

1984 LIMIT

51 527 028 SQ. YD.

CATEGORY

DESCRIPTION

313

315

COTTON SHEETING

COTTON PRINTCLOTH

7 611 932 SQ, YD.

319

COTTON DUCK

336

COTTON DRESSES

352

COTTON UNDERWEAR

434

OTHER WOOL COATS (MEN AND BOYS)

WOOL SKIRTS

MAN-MADE-FIBRE SPUN NON-CELLULOSIC YARN

31 620 000 SQ. YD.

140 458 DOZ.

4 539 000 DOZ.

8 833 DOZ.

63 854 DOZ.

349 304 LBS.

432 480 DOZ. PAIRS

204 000 DOZ.

442

604

631

M.M.F. GLOVES

636

M.M.F. DRESSES

642

M.M.F. SKIRTS

131 762 DOZ.

644

M.M.F. SUITS (WOMEN,

25 500 DOZ.

GIRLS AND INFANTS)

647

M.M.F. TROUSERS, ETC. (MEN AND BOYS)

280 908 DOZ.

+THE LIMITS FOR 1984 ARE IN EVERY CASE GREATER THAN ACTUAL TRADE IN 1983. NEVERTHELESS THIS IS THE FIRST TIME THAT THE U.S. HAS EXERCISED ITS RIGHT TO CONVERT, AND CONVERSION MEANS THAT THE CATEGORIES WILL BE SUBJECT TO QUOTA FOR THE REST OF THE AGREEMENT,

I.E. UNTIL DECEMBER 1987.

+THIS IS CLEARLY A SIGN OF A MORE RESTRICTIVE U.S. ATTITUDE TOWARDS TEXTILE IMPORTS AND, AS SUCH, IS OF CONSIDERABLE CONCERN TO HONG KONG,+ MR MACLEOD SAID.

/MR MACLEOD