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COMMITTEE REPORT
February 11, 2004
S. 776
S. Printed 2/11/04--S.
Read the first time January 13, 2004.
To whom was referred a Concurrent Resolution (S. 776) memorializing Congress to initiate action affecting United States' trade policy toward China so as to protect and preserve the textile industry of South Carolina and, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
WILLIAM MESCHER for Committee.
MEMORIALIZING CONGRESS TO INITIATE ACTION AFFECTING UNITED STATES' TRADE POLICY TOWARD CHINA SO AS TO PROTECT AND PRESERVE THE TEXTILE INDUSTRY OF SOUTH CAROLINA AND THE UNITED STATES.
Whereas, U.S. trade policy toward China is the most important factor leading to the bankruptcy of many of the nation's largest textile companies; and
Whereas, according to the American Textile Institute, the US textile industry lost 267,000 jobs from January 2001 through March 2003; and
Whereas; Chinese sales of textiles to the US rose by 63 percent to 3.15 billion dollars in 2002; and
Whereas; from twelve months ending in March 2002 to twelve months ending in March 2003, the U.S. government has stood by while the China's textile and apparel exports to the United States have surged 140%; and
Whereas; the Chinese textile industry has a profound impact on the textile industry of the United States and South Carolina and the textile industry is vital to the economic welfare of the United States and South Carolina. Now, therefore,
Be it resolved by the Senate, the House of Representatives concurring:
That the members of the South Carolina General Assembly, by this resolution, request Congress of the United States to:
1. Support the extension of quotas on countries that use anti-competitive trade practices in textile and apparel trade:
2. Initiate investigations and formulate cases against all Asian countries that manipulate their currencies; and
3. Impose CVD (countervailing duty) against Chinese textile imports that are subsidized by the Chinese government.
Be it further resolved that a copy of this resolution be forwarded to the United States Senate, the United States House of Representatives, and to each member of the South Carolina Delegation.
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