Home > News > Content

Sino US Trade Friction Heating Up Textile Industry Worsening

Sep 14, 2018

Since the second quarter of this year, the escalating Sino-US trade war has brought tremendous pressure on textile and clothing exports, while the US dollar has been relatively strong and the RMB has accelerated its depreciation, especially since mid-June, there has been a wave of sustained and rapid depreciation. In RMB 1~7, China's textile and apparel exports totaled 990 billion 200 million yuan in 2018, down 3.26% compared to the same period last year. Some insiders believe that Sino-US trade frictions have heated up, market hedging has intensified, stock, commodity and foreign exchange markets have fallen sharply, and bond markets have risen sharply. As the largest exporter of China's textiles and garments, the U.S. trade friction between China and the United States will be a significant negative impact on China's textile and garment exports.

solid coral fleece-02.jpg