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At The Beginning Of The Sino US Trade Negotiations, The Textile Industry Has Rekindled Hope.

Dec 16, 2019

   On December 13, in the US statement on the first phase of economic and trade agreement between China and the United States released by the US trade representative's Office (USTR), the tariff imposed by the US on China's imported goods was changed as follows: (1) the tariff imposed on US $250 billion goods (34 billion + 16 billion + 200 billion) remained unchanged at 25%; and (2) the tariff imposed on US $120 billion goods (US $300 billion list a goods) on September 1 (3) the US $300 billion B list commodity (originally scheduled to be increased on December 15) will be suspended.

   In the above three rounds of tariff increase list, textile and clothing products are included in the list: (1) in the $200 billion tax increase, it mainly includes 7 categories of products such as textile raw materials, yarns and fabrics, involving about $10.3 billion in exports to the United States, accounting for about 16%; while woven, knitted clothing and home textile products with larger exports to the United States are not included in the scope of this tax collection; (2) list a with 15% tariff increase in September Among them, mainly including clothing and accessories; (3) the deferred taxation in B list includes: shoes and boots, non knitted or non Crocheted clothing and clothing accessories, knitted or crocheted clothing and clothing accessories, that is to say, almost all categories of textile clothing are included in the taxable products of US $300 billion.

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