US and China agree on quotas

THE US and China have agreed to a three-year deal for import quotas on Chinese clothing and textile products. According to the Shipping Gazette the agreement limits imports of 21 types of clothing and textiles and sets growth rates for these products from China to the
US as follows: 10%-15% in 2006;
12.5%-16% in 2007; and 15%-17%
in 2008.