Economy

December 29, 2008

When textile quotas end this week, will U.S. jobs go, too?

The U.S. textile industry is worried that what happened in 2005, when similar safeguards were lifted temporarily, will happen again in 2009. China flooded the U.S. market in 2005, with a more than 1,500 percent increase in cotton trousers alone. While that drove down the prices of those products for American consumers, U.S. textile companies lost about 55,000 jobs that year, more than 8 percent of the industry's work force, trade officials say.

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