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In December 2023, India's merchandise trade deficit had narrowed to just under $20 billion after exports rose marginally to $38.45 billion while imports fell by nearly 5 percent year-on-year.
In light of many months of United States trade deficits, Congress seems set to try to override Ronald Reagan's December 1985 veto of legislation curbing imports of textiles and apparel fibers. This protectionist legislation, known as the Textile and Apparel Trade Enforcement Act of 1985, is based an the so-called Jenkins Bill, introduced in the House (H.R. 1562) by Representative Ed Jenkins (D-GA), and a similar bill sponsored in the Senate (S. 680) by Senators Strom Thurmond (R-SC) and Ernest Hollings (D-SC).