INTERNATIONAL
U.S. Cutting Taiwan’s Textile Quota: The United States is cutting the quota to prevent companies on the island from illegally shipping Chinese and Vietnamese textiles to America.Last year’s quota of 1.6 billion square yards will be trimmed by 62 million. Under U.S. pressure, Taiwain said in November that it was cracking down on illegal transshipments by investigating scores of companies and tightening customs inspections. The quota reduction is designed to “partially compensate for previous transshipments and to futher deter potential violaters,” according to a statement by the U.S. officials who helped negotiate the reduction agreement.
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