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NCTO welcomes U.S.-China memorandum of understanding to terminate Chinese export subsidies

May 16th, 2016 / By: / Industry News, News

The National Council of Textile Organizations (NCTO) applauded the announcement of a memorandum of understanding between the U.S. and China in regards to an agreement by China to terminate export subsidies under its “Demonstration Bases-Common Services Platform.”

“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,” said NCTO CEO and president Augustine Tantillo. “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. 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,” Tantillo said.

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