GENERAL AGREEMENT ON CONFIDENTIAL

TEX.SB/1361*

TARIFFS AND TRADE 8 J u l y 1987

Textiles Surveillance Body

ARRANGEMENT REGARDING INTERNATIONAL TRADE IN TEXTILES

Notification under Article 3:5

Actions taken by the United States with respect to imports from China

Note by the Chairman

Attached is a notification received from the United States of measures taken under Article 3:5 with respect to imports of Categories 833 and 847 from China. Copies of the factual statements sent to China with the requests for consultations are attached.

English only/Anglais seulement/Ingles solamente

J 87-1065

UNITED STATES TRADE REPRESENTATIVE 1-3 AVENUE OE LA PAIX

1202 GENEVA, SWITZERLAND Telephone : 32 09 70

July 6, 1987

The Honorable Ambassador Marcelo Raffaelli Chairman, Textiles Surveillance Body GATT Rue De Lausanne 154 1211 Geneva

Dear Ambassador Raffaelli:

This will confirm my earlier oral notification that the United States has decided, effective July 2, 1987, to impose unilateral restraints on imports of two products from China: vegetable fiber suit-type coats (category 833) and silk blend and vegetable fiber trousers (category 847) for one year periods beginning on 30 September 1986 and 31 December 1986, respectively. I am attaching for the information of the TSB copies of the requests for consultations and their accompanying factual statements of the reasons and justification therefore, which were delivered to China prior to China's acceding to the 1986 protocol.

Sincerely, f)

Robert E. Shepherd Minister Counsellor

Attachments

UNITED STATES/CHINA

C c y n m n A ? Y CPFNHG)

I RAV* TPI RCNCP TO PEFFR TO IEF ARFANGF^FNT T>FGA*ITNG INTERNATIONAL ÎRAEE IN TFXTIIES, VITE AtNi?FS, TCNT AT G*MV» CN IïCI".ïIR 2?, 1972 AM ISTÎNIFI IT T^CTCCCI AIr?TïE ON ETCFfFIR 22, 13R1 A M JULY 21. 19°" AT G*NïVA (HEREINAFTER REFERREE TC A3 TSF. ARRANGEMENT). I AISO PïFFR TO SECTION 22A Cï TRI U.S. AGRICULTURAL ACT CF 1956, AS AANEEE.

!".T G07F*N^NT HAS NOTEE TEE SEARF INCREASE IN IMT>A?7S ?î VTSTTABIï FIÏFR SUIT-TYPE CCATS CATEGORY c?2 •e-ROr. CPINA. Kl GOVERNMENT BAS CCNCLUEEE THAT THESE IMPORTS ARF EISRUP1INS THï UNITEE STATES' MARKET AN! ÉPI I!"F*IING THE CREFRIY EEÏELCPMENT CI TRA.EF AS CCNTimATFE PY APTICT* 1HRTF OT THF ARRANGEMENT. A IFTA11ÏI FACTUAL çTAiryvTvT CT 7j-7 RFASONS A M JUSTIFICATION FCR TRIS nCNCrJ?ICNf VIITH CURRFNT SUFFCRTING EATA 13 ENCLC3FE AS *KNTT A. ACCCREINSLY, THE GOVERNMENT CF THF UNITEE S^AT^S RF'EFY REQUESTS CONSULTATIONS VITE THF GOVERNMENT 0 T p^CPLï'S RF

tTJBIIC OF CHINA TO IISCUS3 AN AFF^OFRIATE t n n . CI RESTRAINT FOR EXPORTS IN CAlISCPT Ç22 FROM CHINA.

IN ACCCMANCF wITH ARTICLE THRIF CI THE ARRANGEANT, IT OV* TVC GOVERNMENTS APE UNAPLE TO AGREE CN A MUTUALLY SATISFACTORY SOLUTION TO TRIS yATTER UTHIN SIXTÏ EAYS, THF GOVEFNM*NT CT THE DMIïI STATïS RESERVES THï RIGHT TO RFSTRMN 5TTCP IMPORTS FROEUCEI IK CHINA ANE EXFCRTEE LURING TnE TïïlVï-MCNTH FERICI IEGINNING CN THF EATF OF «ECFIPT C* THIS REOUEST, TO A LEVEL NCT LESS THAN THF TTVJT rx nTx uM1FI STATES' IMFORTS FRCr CRIN» LUPINS THF TIF3T ÎW5IV* CF TF.Ï M03T RECENT FOURTEEN MONTHS FRECFEING T p 7 ^CNT* IN VPI3E THE RFCUFST FCP CONSULTATES VAS "AIE, TFAT 13, IPT FFRIOE JULY 1, 19=5 TO JU/.'E 3e, 19c£. TRIS ï.*ïïl IS 11,21? ICZiN FOR CATEGORY =33.

MV C-">V"NMFNT VCUir AFPRFCIATÏ THE VIEVS OF THE GCVTRN^NT CF THF FEOFLE'S RÎPUFLIC CF CHINA W B RF3FFCT ^C T?T SITUATION PFRTAINING TO EXFCRTS CF CATEGORY P23 TC T-'T UNITÏI STATES AND TO THF SITTING CI A MUTUALLY AGRFAFL* TIME A M VïNt-I FOR CCNSIUTAT1CNS .

!\'CI05*»3I: ANaEX A

*A?K?7 S"ATT^ÏNT CHN» r̂ TTr,CiîV ç2? SIlr'.-ÏLEND AN! OTHER SFPTE

vïTR lopp VEGETABLE FIÏER MEN'S

ANE BCYS' SUIT-TYPE -JACKETS

Ç'Jf^TT AND CONCLUSIONS

U.S. IMFCRTS CE CATEGORY 833 EROtf CHINA WERE 6,S4Ê BCZFN DURITS TPE FIRST SEVEN MONTHS CE 1986 COMPARE! TC 2.25? TCZFN ir^CRTEI* DURING TPE FIRST SEVEN KCNTHS CE 1985. » 202 PEFCENT INCREASE. CHINA 13 THE SECOND LARGES! çT1?pTino rj CATEGORY 933 ACCOUNTING FCR 19 PERCENT CE TCTAT. I"*C?TS DURING THE YEAR ENDING JULY 19?6 .

Iv?rT?75 CE SIIK-BI^ND PEN'S AN! BOYS' SUIT-TYPï JACKETS AND PFN'S A M BOYS' SUIT-TYPE JACKETS CE VEGETABLE FIBER* OIHTR IRAN COTTCN EAVE INCREASED ERAPATICALÎY IN RECENT Y*ARS. 1H* PREDOMINATE BLENDS BEING IMPCRTE! APE PAMIF/CCTTC"> BLENDS AND LINEN BLENDED ïITH VARIOUS FIEF'S I.E. SILT, RAflE A M ACPYLIC. IN SCVE CASES THREE FIBERS ART BLENDED. ALSO, A NUMBER CE SILK-BIEND K-N'S AND BCYS' SUIT-TYPE JACKETS ARE BEING IPFORTED.

IM'CR'fS CF SILKBLFND AND CTEER VEGETABLE EIBER W ' S A M BCYS' 3UIÎ-TYFE JACKETS COMPETE WITH BCMESTICAILV

PPOri'CEI COTTCN, VCCL, AN! MAN-MADE *IBER MEN'S A M BCYS' SUIT-'YFE JACKETS. TFE U.S. fARSET ECR COTTCN, MCL, ANI MAN-PAD! EIBER PEN'S AND BOYS' 3'JIT-TYFE JACKETS, CATEGORY 333/433/633, PAS BEEN DISRUPTED BY IMPORTS. TPE SPA^F ANI S'JESTANTIAL INCREASE 05 CATEGORY 633 IMPCETS F^CM CHINA IS CONTRIBUTING TC THE DISRUPTICN CE TPIS MARKET.

IMPORT FENERATION AND MARKET SHARE

TPE RATIC OE IMFCRTS TO PRCIUCTION IN CATEGORY 333/433/533, COTTON, fcOCL AND MAN-MADE EIBER KEN'S AVE BCYS' SUIT-TYPE JACKETS, INCREASED TC 49 PERCENT IN 19ȣ. TPE SHARE CE THIS MARKET HEID BY lOMFSTIC MANUEACTURFR3 DROPPED TO 6? PERCENT IN 1985. IMPCPTS 0* CATEGORY e33 ARE CONTRIBUTING TO THIS MARKET DISPUPTICM.

U.S. IMPCR^S CF CATEGORY 633 »ERE 55,22e DOZEN IN 1965. THEY INCREASE! IN 1966, REACHING 39,002

DCZ*N IN THF FIRST SEVEN MONTHS, 29 PERCENT HIGHER THAN THE JANUARY-JULY 1985 LEVEL

V'EN C4TEGCRY 333/433/533/933 IMPORTS ARE EXPRESSFD AT A 1966 ANNUAI "ATE, THE IMFOPT TO PRCD'JCTTCN RATIC INCREASES TC 56 PERCENT AND THE DOMESTIC MANUFACTURERS' SHARE CT TPIS MARKET FAILS TC 64 PERCENT.

rUTY-PAII VALUF, ANT U.S. PRCTUCER FRICE

AIL OF TEE IMPORTS OF TIRST SFVFN PONTES OF 391.6967 — MFN'S AND VEGETAEIF EIIER CTHFR

CATEGCRT 833 FRCf CHINA EURT-NG **E 1986 ENTiRir UMER TSUSA Nl^BEPS 3CYS' SUIT-TYPE JACKETS, OF TE AN COTTON,'NOT KNIT, NOT

r*NA.v*MEr; AND 331 .95=2 - K I N ' S .ÂNE E O Y S ' S I L K P H N I SILT-TYFE JACKETS, NOT KMT, NOT ORNAMENTED. THISF SUIT-TYPF JACKETS INTERIE THE U . S . AT IANDET EUTY-FAlE VALUES ÏFLC* U . S . FROTUCERS' PRICES FOR COMPARABLE SUIT-TYPE JACKETS.

TABLE I CATFSCRY 9 3 3 : U . S . IMPORTS CF SII*"B1EM: 1 /

ANI CT^ER YEGETAEIE FIBER fEN'S AND TOYS' Sl'IT-TYPE JACKETS FROM CHINA AM THE VORLI

- l.eee rczEN -FFRIOB CHINA

1985 7

YEAR FMING JUIY

1985 11

OTHER

48

WORLD

55

64

JANUARY - JULY

1P«=5 1985

c 7

29 15

31

1/ F^ICR TC AUGUST 1, 1986 TBFRF VIEBE NO TARIFF FROVISICNS TEAT IRCKE OUT AFFAREL CONTAINING 7Q FERCFN'T CR MOR* FY MIGET SILK. CCNSFQUE NTIY, AIL 82C CATEGOFIFS CCMAIN SOME IRATE FOR THIS PERICD VEICB IS NOT CCVEEFI EY TEE NEW rJLTI-FHER ARRANGEMENT.

s

TABLï II 'AT^GCRY 373/433/633: U.S. PRODUCTION. IMPORTS AN! — I^FCM/FFCruCTICN RATIOS Oï CCTTCK, ¥001 AN! — ^A*-rAIï T13IR r*N'S AND ÏCYS ' SUITTY*ï JAC1ÎPTS

- 1,202 DOZEN -

?~2IC

1972

1952 198?

19=4 1995 1S85 1986

'D

2 /

1 / HCIUTTS

«RCDUCTION

2 .P83 1,855 1,639 1,667

1,661 1,555 1,555 1^555

SILK-ÎLÏND ANI

ItfîOHI

337 475

' 434 492

736 ?52 817 87 4

OTHFR

S

1./ 1 /

111 ETA

I / P RATIO

1 6 . 2 2 5 . 6 2 6 . 5 2 9 . 5

4 4 . 3 4 9 . ? 52 .5 se li

BIï FII^R M AND POYS' SUIT-TYFï JACKET Î .FORTS . 2/ PFCrrCTICN ASST1KID TO RÏMAIN STAïlïî JANUARY IMPOPTS ÏXFRISSÏE AT AN ANNUAL RATI.

JULY

;

TAE1E III CA7ESCRY 333/433/533: U.S. KARKFT ANE DOMESTIC MANUFACTURERS ' SHARE

EOfESTIC PFRICD MARKET 1/ fANUÏACTURER3 ' S°A?F

PERCENT i.eee MARKET 1/ ECZEN -

2,422 2,332 2,e73 2,155 2,397 2,317 2,372 2,429

2/ 2/

86.1 79.5 79.1 77.2 69.3 67.1 65.6 64.2

1572 1977 1SP2 1983 1554 1985 1985 19P6

1/ ANT 2/ «NT 3/ IfFORTS EXPRESSED AT AM ANNUAL RATE.

TAEIE IV CATFGCRY 833: DUTY-PAID I??C3T VALUES ANE U.S. PRCEUCER3' FRICES EOR CCv.FARAELE FRCE'ICTS

U.S. ECLLARS PER DOZEN -

MARKET FOR ECfESTICALIY FRCDUCEE ANE IMFCRTEE MFS'3 BOYS' SUT-TYPE JACKETS. INCIUEFS SILK-BLEND AND OTHER VEGETABLE FIBER MEN'S ÏOYS' SUIT-TYPE JACKET IMPORTS. PRODUCTION ASSUREE TC RE STABLE? JANUARY - JULY

TSU3A NC. ANE SOURCE

3Ç1.6967

CFINA

U.S. FRCt'JCER COTTON SUIT-1YPF JACKET PRICE

381.86E2

CHINA

U.S. FRCEUCFR MAN-fAEE FIBER SUIT-TYFE JACKET PRICE

VALUE/PRICE

134.23

332.22 335.22

145.22

39?.2e - 356.22

UNITED STATES/CHINA

THE EMBASSY OF THE UNITED STATES HAS THE HONOR TO REFER TO THE ARRANGEMENT REGARDING INTERNATIONAL TRADE IN TEXTILES, WITH ANNEXES, DONE AT GENEVA ON DECEMBER 20, 1973 AND EXTENDED BY PROTOCOLS ADOPTED RESPECTIVELY ON DECEMBER 14, 1977, DECEMBER 22, 1981 AND JULY 31, 1986 AT . GENEVA (THE ARRANGEMENT). THE EMBASSY ALSO REFERS TO SECTION 204 07 THE U.S. AGRICULTURAL ACT OF 1956, AS

AMFNDED.

DURING RECENT MONTHS THE UNITED STATES GOVERNMENT HAS NOTED THE SHARPLY RISING LEVEL OF IMPORTS OF CATEGORY 847 SILK BLEND AND VEGETABLE FIBER TROUSERS FROM CHINA TO THE UNITED STATES. AFTER CAREFUL REVIEW, THE UNITED STATES GOVERNMENT HAS CONCLUDED THAT IMPORTS IN THIS CATEGORY ARE DISRUPTING TEE UNITED STATES' MARKET AND ARE IMPEDING TEE ORDERLY DEVELOPMENT 0Î TRADE AS CONTEMPLATED BY ARTICLE 3 OF THE ARRANGEMENT.

A DETAILED FACTUAL STATEMENT OF THE REASONS AND JUSTIFICATION FOR THIS CONCLUSION, HTH CURRENT DATA, IS INCLUDED AS AN ENCLOSURE TO TEIS NOTE. ACCORDINGLY, THE UNITED STATES GOVERNMENT REQUESTS CONSULTATIONS WITH THE GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA TO DISCUSS AN APPROPRIATE LEVEL OF RESTRAINT FOR EXPORTS IN CATEGORY P47 FROM CHINA.

IN ACCORDANCE WITH ARTICLE 3 OF THE ARRANGEMENT, IF OUR TWO GOVERNMENTS ARE UNABLE TO AGREE ON A MUTUALLY SATISFACTORY SOLUTION TO THIS MATTER WITHIN SIXTY DAYS, THE GOVEPNMENT OF THE UNITED STATES RESERVES THE RIGHT TO RESTRAIN SUCH IMPORTS PRODUCED IN CHINA AND EXPORTED

DURING THE TWELVE MONTH PERIOD BEGINNING ON THE DATE 0Ï RECEIPT OF THIS REQUEST, TO A LEVEL NOT LESS THAN THE LEVEL OF THE UNITED STATES' IMPORTS FROM CHINA DURING THE FIRST TWELVE OF THE MOST RECENT FOURTEEN MONTHS PRECEEDING THE MONTH IN WHICH THE REQUEST FOR CONSULTATIONS WAS MADE, THAT IS THE PERIOD OCTOBER 3, 1985 TO SEPTEMBER 30, 1986. THIS LEVEL IS 703,35B DOZEN FOR CATEGORY 847.

THE UNITED STATES GOVERNMENT WOULD APPRECIATE THE VIEWS OF THE GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA WITH RESPECT TO THE SITUATION PERTAINING TO THE EXPORT OF CATEGORY 847 TO THE UNITED STATES AND TO THE SETTING OF A MUTUALLY AGREEABLE TIME AND VENUE FOR CONSULTATIONS.

(COMPLIMENTARY CLOSE)

«

ENCLOSURE: ANNEX A

MARKET STATEMENT CHINA' CATEGORY 847 — SILK-BLEND AND OTHER DECEMBER 1986 ~ VEGETABLE FIBER TROUSERS

SLACKS AND SHORTS

SUMMARY ANT CONCLUSIONS

U.S. IMPORTS OF CATEGORY 947 FROM CHINA WERE 534,523 *̂ OZ*N DURING TEE FIRST TEN MONTHS OF 1935 COMPARED TO 5̂ 2,7,-3 DOZEN IMPORTED DURING TEE FIRST TEN MONTES OF 1955, A 17 PERCENT INCREASE. .CEINA IS THE LARGEST SUPPLIER OF CATEGORY 847 ACCOUNTING FOR 55 PERCENT OF ÏCTAL IMPORTS DURING TEE EIRST TEN MONTES OF 19S5.

IVPCRTS CF SIL'BLEND AND VEGETABLE FIBER OTHER THAN COTTON TROUSERS, SLACIS, AND SECRTS HAVE INCREASED DRAMATICALLY IN RECENT YEARS. THE PREDOMINATE BLEND BEING IMPORTED IS RAMIE/CCÎTOM . MOST'OF THE . CATEGORY £47 IMPORTS FROM CEINA ARE RAMIE/COTTON TROUSERS, SLACKS, AND SHORTS.

IMPCRTS CF SIL.'~-ELEND AND OTHER VEGETABLE F1ÏER TEOJSERS, SLACKS AND SHORTS COMPETE WITH DOMESTICALLY PRODUCED COTTON, tfOOL, AND MAN-MADE FIEER TROUSERS, SLACKS AND SECRTS. THE U.S. MARKET FOR COTTON, VOOL, /N^ "AN-MADE FIEER TROUSERS, SLACKS AND SHORTS, CATEGORY c47/^45/447/445/547/649, HAS BEEN DISRUPTED BY IMPORTS.

T'-'S SUBSTANTIAL INCREASE OF CATEGORY 547 IMPORTS FROM CHINA IS CONTRIBUTING TO THE DISRUPTION OF THIS MA?.TET.

IMPORT PENETRATION AND MARKET SHARE

THE RATIO CF IMPORTS TO PRODUCTION IN CATEGORY ?.^7/34S/447/44£/547/543, COTTON, WOOL, AND MAN-MADE FÎB7R TROUSERS, SLACiS AND SEORTS, INCREASED TO 43 PERCENT IN 1995. THE SHARE OF THIS MARKET HELD BY r,C"FSTIC "ANUiACTURERS DROPPED TO 55 PERCENT IN 1935. IMPORTS OT CATEGORY 547 ,'FE CONTRIBUTING TO THIS MARr'.ET DISRUPTION.

FJ.CTUCTICN DATA PCF. I93r AR- VCT CURRENT!Y AVAIHILr;

KC'J'VZ?., G~?E":NVENT TUTTINGS TATA ARE REPORTED. CUTîrS? 1/ RAÏA TOR IRE FIRST T-N MCN'IHS OF 19B5 INDIC-'-TE Tr;.T tp.orrcîfOK is n:-r::E PERCENT B~Lrw THE JANUARY - OCTCErR 19et L"VEL. 17 PRODUCTION IS ASSUMED TC FINAL': *T ITS 195?5 LEVEL, AND JANUARY - OCTOBER 19S5 IMPORTS CF CATEGORY 347/34&/447/448/547/548/B47 ARE EXPRESSED AT AN ANNUAL RATE, THE IMPORT TC PRODUCTION RATIO INCREASES TC 51 PERCENT AND THE DOMESTIC MANUFACTURERS' SHARE OF THIS MARKET FALLS TO 52 PERCENT.

IUTY-FAID VALUE ANE U.S. PRODUCER PRICE

APPROXIMATELY 92 FERCENT CF THE IMPOSTS CF CATEGORY 847 FP.O* CHINA DURING THE FIRST TEN MONTHS OF 1995 ENTERED UNDER TSUSA \UMEERS 361.6995 — MEN'S AND BOYS' WOVEN TP Cl SERS, SLAC-.CS AND SECRTS, OF VEGETAELE F IEEE OTEER IRAK COTTON, NOT ORNAMENTED? AND 3B4.5597 — WOMEN'S, C-IRLS' AND INEANTS' WOVEN TROUSERS, SLAClS AND SHORTS, OF VEGETABLE EIEER OTEER TEAN COTTON, NOT ORNAMENTED. mHESE GARMENTS ENTERED TEE U.S. AT LANDED DUTY-PAID VALUES 3ELCW U.S. PRODUCERS' PRICES FOR COMPARABLE GARMENTS.

1/ U.S. CUTTINGS DATA ARE FOR MEN'S, WOMEN'S, MISSES', AND JUNIORS' COTTON, VCCL AND MAN-MADE FIBER TROUSERS AND INCLUDE BOTH tfOVEN AND fINIT TROUSERS.

TABLE I" CATEGORY 847: U.S. IMPORTS OF SILT-ELEND 1/

AND OTEER VEGETABLE FIBER TROUSERS, — SI A C S AND SHORTS FROM CHINA

AND THE WORLD 1,000 DOZEN -

PERIOD CHINA OTHER WORLD

1955 553 572 1,225

YEAR ENDING OCTOBER

19E-* 745 522 1,357

JANUARY-OCTOBER

1935 543 445 9B9 19Si 535 495 1,130

1/ PRIOR TO AUGUST 1, 19P5 THERE WERE NO TARIFF PROVISIONS THAT FRO^E-OUT APPAREL CONTAINING 70 PERCENT OR MORE EY WEIGHT SILK. CONSEQUENTLY, ALL 300 CATEGORIES CONTAIN" SC*E TRADE FOR'THIS PERIOD WHICH IS NOT COVERED BY THE NEW MULTI-FIBER' ARRANGEMENT.

file:///UMEERS

TABLE II'

s

CATEGORY 347/348/447/448/647/648: U.S. PRODUCTION, IMPORTS AND IMPORT/PRODUCTION RATIOS OF COTTON, KOOL AND MAN-MADE FIBER

TROUSERS, SLACKS AND SHORTS

PERIOD

1982 1983 1984 1985 1985 1986 2/

ÎODUCTION

82,181 81,886 83,185 81,187 81,187 81,187

IMPORTS

26,650 31,786 35,695 ' 38,770 39,995 1/ 49,169 1/

I/P RATIO

32.4 38.8-" 42.9 47.8 49.3 60.6

1/ INCLUDES SILOLEND AND OTHER VEGETABLE FIBER TROUSER, SLACK AND SHORT IMPORTS.

2/ PRODUCTION ASSUMED TO REMAIN CONSTANT; JANUARY-OCTOBER IMPORTS EXPRESSED AT AN ANNUAL RATE.

TABLE III CATEGORY 347/348/447/448/647/64B: U.S. MARKET

AND DOMESTIC MANUFACTURERS' SHARE

PERIOD -

1982 19P3 1904 1985 19P5 1986 3/

MARKET 1/ - 1,000 DOZEN -

108,841 113,672 118,860 119,957 121,ie2 2/ 130,356 2/

DOMESTIC MANUFACTURERS" - PERCENT -

75.5 72.0 70.0 67.7 67.0 62.3

SHARE

1/ MARKET FOR DOMESTICALLY PRODUCED AND IMPORTED TROUSERS, SLACKS AND SHORTS.

2/ INCLUDES SILK-BLEND AND OTHER VEGETABLE FIBER TP.OUSER, SLACK AND SHORT IMPORTS.

?/ PRODUCTION ASSUMED TO REMAIN CONSTANT; JANUARY-OCTOBER IMPORTS EXPRESSED AT AN ANNUAL RATE.

CHINA U.S. PRODUCER COTTON PRICE

52.78 154.50 - 163.50

TABLE IV CATEGORY 6 4 7 : DUTYPAID IMPORT VALUES

— AND U . S . PRODUCERS' PRICES FOR COMPARABLE PRODUCTS - U . S . DOLLARS PEP DOZEN -

TSUSA NO. AND SOURCE VALUE/PPICE

3P1.6996

CHINA ' 7 1 . 5 0 U . S . PRODUCER COTTON PRICE • 160 .50 - 169 .50

3P4.5697