April 10, 2004

Textile Quotas Lifted: Race to the Bottom Continues

Prices on textiles may drop 15% by 2005, and along with them, wages of workers in the poorest countries of the world.
In the 1994 (Uruguay) round of trade negotiations, WTO members agreed to a 10 year plan for phasing out the existing system of import quotas. Quotas, like tariffs, are a mechanism for regulating international trade. The quotas on textiles are to be lifted at the end of this year.

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