New for Summer: Higher Prices
"There are economic isolationists in our country who believe we should separate ourselves from the rest of the world by raising up barriers and closing off markets. They're wrong."
That's President Bush alluding to an unnamed isolationist back in March 2004. Incidentally, late last Friday, the Bush administration announced a plan to slap new limits on clothing imports from China. Quotas on Chinese textiles had ended in January according to a 1995 agreement, following a decade-long grace period. Free trade lasted four months. After increases topping 1000 percent between January and April, new imports in some categories will be capped at 7.5 percent a year.