Sino US Trade War Dragged Down Cotton Vulnerable

- Sep 26, 2018-

  On September 17, 2018, the U.S. government announced that it would impose a 10% import tariff on $200 billion of goods originating in China from September 24, and that it would raise the sub-tariff rate to 25% on January 1, 2019. Subsequently, China decided to impose tariffs on goods on the list of goods subject to tariffs imposed on the United States and Canada annexed to the decision of the Ministry of Commerce Bulletin No. 63 and the Tax Commission Bulletin No. 6, with effect from 12:01 on 24 September 188, 10% on the 2493 items listed in Annex 1 and 1078 items listed in Annex 2, and 974 items listed in Annex 3. 5% of the 662 taxable items listed in Annex 4 are subject to customs duties. The Sino-US trade war escalated again, while the US cotton exports were unfavorable for long-term domestic cotton consumption, internal and external cotton significantly lower, ICE cotton fell to nearly half a year low again broken 80 cents line, Zheng cotton main contract 1901 fell nearly 4% to break 16000 yuan / ton.