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What impact will the Sino-US trade war have on China-US textile and apparel trade?
- Jul 12, 2018 -

US President Trump issued a tweet on March 27th saying that he is having a dialogue with a number of countries on trade issues and said that it will eventually be a result of "all happy." Whether Trump’s remarks specifically target China is not yet conclusive, but there are already signs that the once-striking Sino-US trade war is developing in a direction of mitigation.

On March 23, Trump signed a trade memorandum on China, claiming to impose tariffs on Chinese imports of $60 billion. But even at the signing site, US Secretary of Commerce Ross said that this measure from the United States will lead to a Sino-US consultation rather than a trade war, showing that the Trump administration has not shut down the door.

On March 26, US Treasury Secretary Mnuchin said that he had "having a fruitful talk with China on recent trade frictions." Both countries agreed to reduce the US trade deficit with China to some extent. Therefore, he The two sides reached a settlement agreement saying "cautiously hopeful."

The piecemeal information of the positive changes in the United States has also been captured by the Chinese side and has made a meaningful statement. Chinese Foreign Ministry spokesperson Hua Chunying quoted US officials on March 26 as saying that the era of American economic yielding has come to an end.

The market has had a positive and optimistic response. On the same day that Trump posted on Twitter, A-shares rebounded strongly in early trading, excluding the ST shares in the market. More than 70 stocks had daily limit, and the GEM was the first to make up the previous few days. Trump gap." The Wall Street market in the United States captured this information earlier. The US stock market has rebounded strongly overnight. The three major stock indexes surged above 2%, and the highest Nasdaq exceeded 3%, basically easing the last week's slump.

This is undoubtedly a good sign. As the two largest economies in the world, China and the United States will not only be detrimental to the two countries but will also have a negative impact on the recovery of the entire global economy once the trade war is opened and difficult to control. This is who does not want to see it.

So, how much influence does the Sino-US trade war have on China's textile and garment industry?