The US Government Will Provide Huge Assistance To Textile Companies.

Because of the increasingly fierce competition from overseas, clothing Consumer demand for products is decreasing. U.S.A The federal government will provide textile factories within a few years. Huge assistance To support Spin Industry competes with overseas enterprises.

The arrangement will provide about $80 million in the first year, and will be distributed to 60-70 cotton textile mills in the United States, allowing them to invest in new equipment or upgrade equipment to help them survive.

This arrangement (approved by the 2008 Federal Agricultural Law) ends in 2012. Which companies will receive assistance and how much money they allocate has not yet been decided. The final amount will not be announced soon.

Textile industry officials say the rescue arrangement is not in the US banking and auto industry's rescue plan, because these funds will reduce subsidies for us cotton growers. But the overall goal is the same.

Since 1997, more than 600 textile factories have been closed, and North Carolina and South Carolina have suffered the most. From December 2004 to December 2007, the US textile and garment industry lost 29% jobs, about 195000 people.

　　 American textile Cass Johnson, the head of the organization, blamed China for its main reason. He said that the Chinese government subsidized textile factories and made the textile factories in the United States face fierce competition. American textile The factory is concentrated in the southeast area. 　

Editor: vivi