China’s textile and apparel exports to the United States increased by 5.7%, and export challenges and opportunities coexist.
In the first quarter of this year, China’s exports to the United States accounted for 16.7% of the total textile and clothing exports, up 5.7% over the same period last year. From the point of view of export structure, clothing export is the main factor, textile exports are subsidiary, garment exports accounted for 70.7% in the first quarter, and textile exports accounted for 29.3%. China and the United States have a huge trade surplus in the textile and garment trade. The cumulative trade volume of China’s textile and clothing in the first quarter is 293 billion 150 million dollars, of which 9 billion 610 million US dollars, imports 180 million US dollars, and the total trade surplus of 9 billion 430 million US dollars.
Trade friction between China and the United States is a hot topic of concern at this Canton Fair. At present, textile and clothing products are not listed in the first round of tariff products, while the second round of both China and the United States released products related to the textile industry. If trade frictions continue to escalate, the textile industry will be affected in the second half of the year.
The U. S. Department of commerce data shows that in 1-2 months of 2018, the top four exporters of American textile and clothing were China, Vietnam, India and Bangladesh, which accounted for 35.8%, 10.9%, 6.9% and 5% respectively. At present, China still occupies an absolute advantage. As the second largest textile and garment import market in the United States, Vietnam is most likely to undertake the transfer of orders because of its relatively perfect industrial matching, low production cost and abundant labor. The Sino US trade friction will make Vietnam take advantage of the favorable conditions and snatch China’s export to American textile and clothing orders, which is a severe challenge for Chinese textile and clothing enterprises.
Most exhibitors believe that in the light of the interests of domestic buyers, the United States will not add tariffs to textile and garment products. The textile industry in the United States has long shrunk seriously, and it has no direct effect on the US manufacturing industry. As China is the most complete textile and apparel industry chain, no country in the world can compete with it. In addition, with the acceleration of the global layout of China’s textile industry, many Chinese enterprises have been laid out in Vietnam and other Southeast Asian countries in recent years. Even if the United States levies taxes on imported Chinese textiles, the impact on such enterprises is limited.
Sino US textile trade friction has a long history. In the most difficult time, it did not stop the development of China’s textile industry, but accelerated the upgrading of China’s textile industry. In the face of Sino US trade friction, enterprises should speed up transformation and upgrading, strengthen themselves, look for the general trend and enhance their ability to resist risks.