USA: Clinton Reaches Agreement With India On Textile Tariffs
The United States and India have reached an agreement on textiles and apparel that the Clinton administration said Friday should significantly increase sales opportunities for American companies. The deal was announced during a state visit by Indian Prime Minister Atal Bihari Vajpayee. Under the agreement, India will establish tariff ceilings that will keep its border taxes on American textile and apparel products from going above certain levels. "This agreement paves the way for US producers of textile and apparel products to expand shipments to India, one of the world's largest markets with significant promise for competitive US producers and exporters," US Trade Representative Charlene Barshefsky said in a statement. The agreement fulfills market opening commitments that India made under a 1994 pact between the two countries.
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