Sino-U.S. trade friction escalation! Will it affect our textile people to make money?
Is there any relationship with the textile industry?
The United States is China's largest export market for textiles and apparel. In 2017, China’s exports to the United States accounted for 15.5% of total textile and apparel exports. The United States imported more than one-third of its total textile and apparel imports from China.
The result is that China and the United States have a huge trade surplus in the textile and apparel trade (more to buy than to buy) and rank third in all commodities. In 2017, China exported 268.6 billion U.S. dollars in textiles and clothing, imported 24.55 billion U.S. dollars, and sold more than ten times more than it bought.
Earned their money, accounted for their market and grabbed their jobs.
Therefore, the United States will not easily let go of the Chinese textile and garment industry.
Textile exports may be hurt the most
Among China's textile and apparel products exported to the United States, textile products account for about 30% and 70% are ready-made or garment-processed products. Snoring is the place where the other party suffers the most pain. Therefore, garment exports are more likely to be the key to the impact.
Who will benefit?
To do this kind of textile work, the American master is not willing to do it. The most likely to benefit is Vietnam. Vietnam is the second-largest textile import market in the United States. People are numerous and cheap, and they are most likely to snatch Chinese orders.
Some professional organizations predict that trade wars may cause Chinese export orders to fall by 6% to 18.8 billion U.S. dollars.
Impact on the United States?
At present, China's textile industry invests in the United States in the fields of spinning, home textiles, chemical fiber, and industrial use. The North Carolina, South Carolina, and Arkansas states all have textile-related industries, and they welcome the Chinese investment. Under the current political environment, the United States will be more rigorous in examining and approving China’s future investment, and will be less friendly to China’s capital, and will inevitably urge entrepreneurs to be more cautious when considering investing in the United States. At the same time, they will drive more investment toward Southeast Asian countries. .