Gester Instruments | Professional Textile, Footwear and PPE Testing Equipments Manufacturers Since 1997
The Sino-US trade war will burn to the textile equipment industry
At 12:30 a.m. on March 23, Beijing time, US President Trump signed a presidential memorandum, according to“301”As a result of the investigation, large-scale tariffs were imposed on goods imported from China and restrictions on Chinese companies' investment and acquisitions in the United States were restricted. The United States has finally unilaterally launched the long-simmering Sino-US trade war against China! On April 4, in order to counter the US, the State Department decided to impose a 25% tariff on some goods originating in the United States, including uncombed US cotton and cotton linters. Trump then announced that he would continue to add an additional $100 billion to the list of tariffed goods. The Sino-US trade war has intensified. This trade war has gradually extended from the initial steel and aluminum industry to the textile industry. The United States is China's largest exporter of textiles and clothing. my country is the world's largest exporter of textiles and clothing. At the same time, textile and clothing exports are also an important component of my country's trade exports. The proportion of textile and apparel exports in my country's total foreign trade remains at around 13%. The top 10 export markets for China's textiles and apparel are: the United States 17%, Japan 8%, Hong Kong 6%, Vietnam 5%, the United Kingdom 4%, Germany 3%, South Korea 3%, Russia 3%, the Philippines 2%, and the United Arab Emirates 2% . Among the top 10 markets for China's textile and apparel exports, the United States ranks first. In 2017, China's exports to the United States accounted for 15.5% of total textile and apparel exports. From the perspective of export structure, clothing exports are the mainstay, accounting for 73% in 2017, supplemented by textile exports, accounting for 27%. China and the United States have huge trade surpluses in textile and apparel trade. In 2017, the cumulative trade volume of China's textiles and apparel was US$293.15 billion, of which exports were US$268.6 billion, imports were US$24.55 billion, and the cumulative trade surplus was US$244.05 billion. The surplus is that we sell more products to the United States than the United States sells to us, making them money, occupying their market, and robbing them of their jobs. Therefore, Trump will not let go of China's textile and apparel industry! The main importing countries of US textile and apparel are: China, India, Vietnam, Pakistan, Mexico, Bangladesh, Indonesia, South Korea, Honduras and Canada. In 2015, the top four exporters of textiles and clothing to the United States were China, Vietnam, India and Mexico, accounting for 37.25%, 9.43%, 6.68% and 4.52% respectively. China has an absolute advantage. As the second largest textile and apparel import market in the United States, Vietnam is most likely to undertake the transfer of orders due to its relatively complete industrial facilities, low production costs, and abundant labor. The impact on the textile instrument industry We all know that textile testing instruments are attached to the textile industry, so where the textile industry is transferred, the textile testing instruments will follow. Of course, as an indispensable testing instrument for textile quality supervision, there are also larger ones in the United States Market share, in response to the tariff issue that was added to US$100 billion in the trade war on April 4, has begun to extend to the field of instrumentation, and the field of instrumentation is also“Made in China 2025”The key construction area of the United States is also the spearhead of the US trade war. Although the current Sino-US trade war has just started, there are still many possibilities whether it will continue, but as a major exporter of foreign trade, such an international trade dispute is definitely inevitable. Souyi companies with a foundation can consider setting up local companies. Or offices, which are handled as international warehouses, and secondly, diversification of trade is also an effective way to avoid such problems. In view of the current Sino-US trade war, it is also a constant reminder of the current risks and countermeasures of the foreign trade export industry.
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