China'S Textile And Clothing Exports Are Facing Opportunities And Challenges Under The Unreasonable Pressure Imposed By US Tariffs.

Recently, the US announced a list of tariffs to be added to China's $200 billion export to the US.

"Before the US tax increases on China's $50 billion product were mainly targeted at high-tech industries, the $200 billion tax increase list began to involve textile and clothing related to people's livelihood, which will have a greater impact on China's textile and garment exports."

An information analyst, JOYOU, said.

Regenerated leather garments and accessories, fur clothing, clothing accessories, silk, wool, horse hair yarn and woven fabrics, cotton, other plant textile fibers, paper yarns and woven fabrics, chemical fiber filament, chemical fiber textile materials, flat strips and similar products, chemical fiber staple, wadding, felt and nonwoven fabrics, special yarns, yarns, cables, cables and their products, carpet and other textile floor products, special woven fabrics, tufted fabrics, lace, decorative blankets, decorative tapes, embroidery, impregnated, coated, wrapped or laminated textiles, industrial textiles, knitted fabrics and crochet knitted fabrics. According to the proposed tax increase list, leather or

Parts and so on are all within the scope of tax increase.

And I

Rely heavily on exports, this tax increase will be a heavy blow to China's textile and garment industry exports to the United States.

"China's textile and garment exports account for about 13% of China's total foreign trade, while textile and apparel exports to the United States account for about 15.5% of China's textile and apparel exports.

In 2017, China's textile and apparel exports amounted to US $268 billion 600 million, and the estimated exports to the US market amounted to about US $41 billion 600 million.

An Guang expresses.

An Guang said that in 2018, the US dollar strengthened and the United States launched trade frictions. The currencies of some emerging economies continued to depreciate, including Argentina, Turkey and India. The exchange rate of Hong Kong dollar against the US dollar was at a low level in the past 35 years, and the RMB continued to depreciate.

"Trade frictions are persistent, speculating that the continued depreciation of the renminbi will be beneficial to export oriented textiles."

Industry, but the United States tax on textile and garment products will lead to the suppression of the export volume and price of China's textile and garment industry, which may completely offset the positive effect of RMB devaluation on textile and clothing exports.

An Guang expresses.

Reporters learned that the textile and garment industry is a labor-intensive industry. In recent years, China's demographic dividend has gradually disappeared, and the textile and garment industry has been pferred to Southeast Asian countries such as Vietnam.

"If the United States formally increases taxes on Chinese textile and clothing products in the late period, the United States will increase imports of textile and clothing products from Vietnam oriented Southeast Asian countries instead of imported Chinese textiles.

Products, like China's increased import of soybeans to Brazil and other countries, partly replace the US soybean that has risen after tax increases.

The Sino US trade frictions, Vietnam and other emerging textile and garment exporting countries may be the biggest beneficiaries.

An Guang expresses.

An Guang said that after the announcement of the US tax increase list, the hearing will be held on August 20th ~23, and the final result may be announced after August 30th.

Textile and apparel products will directly increase the cost of living for the American people, which is related to the people's livelihood of the United States. JOYOU information speculates that the United States interested parties (importers and business associations) will exclude exemption from the products being taxed.