BEIJING, May 24 (UPI) -- Beijing warns Brussels and Washington it will undo planned export tariffs on textiles if the European Union or United States impose quotas.
EU Trade Commissioner Peter Mandelson planned to meet Tuesday with his Chinese counterpart about the trade stand off over rising Chinese textile products coming into Europe and the United States, the BBC reported.
Recently, China said it would raise export tariffs in 74 categories of products by as much as five times.
But that may be too little too late as both EU and Washington officials are predicting that import quotas are increasingly likely.
"If the U.S. and the EU formally carry out restrictions on any of these categories, we will not impose tariffs on the items in question," a spokesman in China's commerce ministry said.
