TRADE: A Tempest Over Textiles

A Tempest Over Textiles

The White House and Congress are locked in another major battle over protectionism. Last week the Senate passed, by a vote of 57 to 32, a bill to grant import relief to the textile industry. Since eleven Senators did not vote on the measure, it remains uncertain whether the bill's supporters can muster the 67 votes needed in the Senate to override a promised presidential veto. The bill, similar to one that has already passed the House, would cap increases of foreign textile and apparel imports at 1% a year. They have been rising by an average of 16% annually since...

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