Freed from trade quotas

News - Time Europe

European and American clothing and textile companies knew they would be in for some hard knocks this year following the expiration on Jan. 1 of a decades-old quota system that limited exports from low-cost producers like China and India.

A Chinese firm has already stated it wanted to bring 10 million bras, wholesaling for just 50 cents a dozen to Italy. Italians buy about 40 million bras a year, so the 10 million represents three months of total Italian sales.

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