Sino-US trade friction is a hot issue that companies are highly concerned about. At present, textile and apparel products do not add tariffs to the list of tariffs in the first round, while the second round of lists issued by both China and the United States have appeared in the textile industry-related products. If trade frictions continue to escalate, the textile industry may be affected in the second half.

 

In the first quarter of this year, China’s exports to the United States accounted for 16.7% of total textile and apparel exports, a year-on-year increase of 5.7%. From the perspective of export structure, mainly clothing exports, supplemented by textile exports, clothing exports in the first quarter accounted for 70.7%, textile exports accounted for 29.3%. China and the United States have a huge trade surplus in the textile and apparel trade. In the first quarter, China’s cumulative textile and apparel trade was 293.15 billion U.S. dollars, of which exports were 9.61 billion U.S. dollars, imports were 180 million U.S. dollars, and cumulative trade surpluses were 9.43 billion U.S. dollars.