The Impact Of Sino-US Trade Friction On The Textile Industry

- Jul 19, 2018 -

On July 16, Mao Shengyong, a spokesperson of the National Bureau of Statistics, said at a press conference held by the Press Office of the State Council Information Office that the main indicators of China's economic operations in the first half of this year were generally stable, and the impact of Sino-US trade frictions was relatively limited. In the second half of the year, what will happen to the trade friction between China and the United States? Further observation is needed.

According to the statistics of the China Chamber of Commerce for Import and Export of Textiles, the US Trade Representative Office (USTR) announced that it intends to impose a 10% tariff on China's 200 billion US dollars in exports to the United States. The textile and apparel products have more than 1,000 tax codes, covering most textiles. Raw materials, semi-finished products and a small number of garment accessories, mainly including textile raw materials, yarns and fabrics, carpets, industrial textiles, leather and fur garments, hats and gloves, plastic raincoats, etc.; but China’s exports to the United States are relatively large. Goods such as clothing, knitwear and home textiles are not on the list. It involves China's exports of textiles and apparel to the United States of about 10.3 billion US dollars, accounting for 22.6% of China's exports of textiles, clothing and raw materials to the United States, involving about 20,000 exporting companies.