The US Is Going To Conduct A 332 Survey Of Chinese Textiles.

The US International Trade Commission announced on its website the announcement that it will carry out a 332 survey of Chinese textiles. At the request of the US House of Representatives fundraising committee, the US International Trade Commission will monitor some Chinese textile and clothing imports. ITC will report to the committee every two weeks on the import volume, import value, unit price and market share of the textiles and garments, and the products under surveillance are the products listed in the memorandum of understanding of the Sino US trade in textiles and clothing, which was executed at the end of 2005. The house fundraising committee said that surveillance of China's imports was due to the influx of Chinese textile and clothing imports into the US market after the December memorandum of understanding. The Commission pointed out that China's textile and clothing exports to the United States had increased significantly after the WTO import and export agreement on textile and clothing was concluded in 2005. According to the request, the US International Trade Commission will submit its first report to the Committee on 1 December 2008. The report will provide a summary of historical data, including import volume, amount, unit price and market share from January 1, 2003 to last month. After that, the US International Trade Commission will provide a two week report to the House Committee on fundraising. The United States International Trade Commission will issue annual data summary report. The surveillance of the US International Trade Commission will be carried out under the investigation of "China Textile and clothing import statistics report", the investigation file number is 332-501. The "332 investigation", also known as the "conventional fact finding" clause, refers to the 332nd tax law of the United States in 1930. The article stipulates that the International Trade Commission of the United States may conduct a "routine investigation" and report on any matter involving tariffs and trade, including the United States President, the house of Representatives, the Senate Finance Committee or the United States trade representative, or by itself. The article also stipulates that the final report of the "332 investigation" does not contain any policy recommendations unless it is specifically required, nor can it provide any legal basis for any trade actions carried out by the president. But the actual situation is that "332 investigation" is usually the basis of anti-dumping or safeguard measures initiated by the US International Trade Commission or the Ministry of Commerce.