IMF warns U.S. on trade steps against China
( 2003-11-19 10:22) (Agencies)
The International Monetary Fund said on Tuesday it had warned the United
States against taking trade actions against China, such as the textile quotas
unveiled earlier in the day.
"It's a big risk in the current environment that there could be such measures
against China," Steven Dunaway, senior advisor in the IMF's Asia-Pacific
Department, told a conference call about the fund's annual assessment of China's
Dunaway said the Chinese government also had warned that they would not
hesitate to retaliate.
"It is the kind of situation which the IMF strongly discourages on both sides
so we have cautioned the U.S. not to use such ... policy," he added.
The Bush administration earlier on Tuesday said it would impose import quotas
on knit fabrics, brassieres and dressing gowns from China, the latest twist in
an often troubled trading relationship between the two economic giants.