U.S. Treasury Secretary John Snow

<UL><STRONG>Friday, May 13</STRONG> <LI>The U.S. Commerce Department moved to limit imports on three categories of Chinese apparel imports, including cotton knit shirts and blouses and cotton trousers valued at $624.5 million.<BR><BR><STRONG>Tuesday,...

This story first appeared in the May 23, 2005 issue of WWD. Subscribe Today.

    Friday, May 13

  • The U.S. Commerce Department moved to limit imports on three categories of Chinese apparel imports, including cotton knit shirts and blouses and cotton trousers valued at $624.5 million.

    Tuesday, May 17

  • U.S. Treasury Secretary John Snow warned China that without reforms the country could be labeled a manipulator of its currency, which could lead to World Trade Organization involvement and possible economic sanctions.
  • At his swearing-in ceremony, U.S. Trade Representative Robert Portman said, “I have already begun a top-to-bottom review of China trade issues, and I will work closely with Congress to see that American workers, farmers and businesses are treated fairly.”

      Wednesday, May 18

    • The U.S. government moved to restrict imports of four additional categories of Chinese goods, including man-made fiber trousers and combed-cotton yarn valued at $690.4 million.

        Thursday, May 19

      • Snow named Olin Wethington his special envoy to China. “[Currency] reform is in China’s best interest and it is in the best interest of the global economy,” Wethington said.

        Friday, May 20

      • China said it would restrict its own exports by hiking tariffs on 74 categories of apparel and textiles, effective June 1. Most of the goods will be charged a duty of 12 cents per item, up from 2.4 cents.
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