Under the cloud of Sino-US trade war, how should textile and garment export enterprises respond?

The Trump administration once again promoted the accelerated escalation of the Sino-US trade war. On July 10, the United States announced that it would impose an additional 10% tariff on an additional US$200 billion of Chinese goods and published a nearly 200-page list involving more than 6,000 products. The Trump administration announced plans to impose an additional 10% tariff on about 200 billion US dollars of Chinese products. The commodity categories include seafood, vegetables and fruits, yarn, wool, raincoats, jackets, and so on. According to a statement issued by the Office of the United States Trade Representative, the additional tariffs may take effect after the public consultation ends on August 30. According to preliminary information, thousands of textile products have been included in the list. The China National Textile and Apparel Council said that this is the biggest challenge my country's testing-equipment' target='_blank'>textile industry has encountered in foreign trade since the United States and Europe abolished textile and apparel quotas. Statistics from the China Chamber of Commerce for Import and Export of Textiles According to statistics from the China Chamber of Commerce for Import and Export of Textiles, the US’s proposed tax list covers 6031 tariff lines, of which more than 1,000 textile and apparel product tariff lines involve most textile raw materials, semi-finished products and a small amount of clothing. Accessories products, mainly including textile raw materials (cotton, silk, wool, hemp, etc.); yarn and fabrics (cotton, wool, silk, hemp, chemical fiber, glass fiber, etc.); carpets; industrial textiles; leather and fur clothing, Hats, gloves, plastic raincoats, etc. Commodities such as woven garments, knitted garments, and home textile products, which have a large export volume from China to the United States, are not included in the list. Figure 4; The additional tariffs imposed by the United States basically cover all products in China’s textile export sector. This is a big problem for my country’s textile and apparel exports. With high tariffs, domestic textile and apparel companies export to the U.S. market for market competitiveness. It is bound to be seriously weakened. In this regard, Chinese textile and garment enterprises must be able to resist the wind. So how should my country's textile and garment enterprises face the escalating Sino-US trade friction? 1. Gradually reduce the dependence on the US market. Overall, in 2017, my country’s yarn and fabric exports totaled US$66.64 billion, an increase of 4.7%, of which 4.738 million tons of yarn were exported, with an export value of US$11.7 billion; and 44.63 billion meters of fabric exports were exported. The amount is 54.94 billion U.S. dollars. my country exported 5.29 billion US dollars of yarn and fabrics to the EU, a year-on-year increase of 5%. Among them, the export of yarn was 1.19 billion US dollars, a year-on-year increase of 3.9%; the export of fabrics to the EU was US$4.1 billion, a year-on-year increase of 5.4%. Yarn and fabric exports to Japan are 790 million US dollars, of which yarn exports are 370 million US dollars and fabrics are 420 million US dollars. Driven by national policies, exports to 16 countries in Central and Eastern Europe grew rapidly, with a total of 1.19 billion U.S. dollars in yarn and fabric exports, an increase of 23.7%. Among the eight South Asian countries, Bangladesh, Pakistan and India are my country's important yarn and fabric exporters. In 2017, my country's exports of yarn fabrics to Bangladesh reached 5.14 billion U.S. dollars, an increase of 8.3% year-on-year. Yarn and fabric exports to Pakistan and India were 1.901 billion U.S. dollars and 1.893 billion U.S. dollars. Among the five Central Asian countries, exports to Kazakhstan and Uzbekistan are eye-catching, with exports of yarn fabrics of 390 million U.S. dollars and 290 million U.S. dollars respectively. Among the 7 countries in the Commonwealth of Independent States, Belarus has the fastest growth rate. In 2017, its export value was 36.918 million U.S. dollars, an increase of 374.5 percent. 2. Adjusting the structure. Faced with such a difficult situation for mid-to-high end, how can companies seek opportunities amidst the challenges of Sino-US trade frictions? At present, the company mainly adjusts its product structure. Among all products, non-cotton fiber products account for about 60%. As far as the current policy is concerned, cotton products are more affected. Therefore, reducing cotton products will not make much difference in the cost of raw materials. In addition, we have our own unique Ru0026D advantages. The company develops dozens of new products to promote to customers every year. 'Under the background of China's current loss of cost dividends, for textile and apparel companies exporting to the US market, product upgrades are undoubtedly a powerful starting point for mid- to high-end customers. Taking the road of differentiation and making niche products to win the market has become Corporate consensus. At the same time, domestic textile and apparel companies should also accelerate product upgrades, improve effective efficiency and quality, accept high-quality and high-profit small-volume brand orders, and cut off low-profit, large-volume orders. 3. Speed u200bu200bup production capacity upgrades and upgrade design and Brand influence At present, most domestic textile and apparel companies export to the U.S. market are welcomed by the U.S. market because of their low prices and superior quality. However, long-term low-profit and large-volume shipments have not improved the competitive advantage of Chinese textile and apparel companies in the United States. The disappearance of the demographic dividend and high labor and price costs have weakened the export competitiveness of textile companies. In the long run, domestic textile and apparel companies have long-term insufficient brand and word-of-mouth construction in the US market, resulting in weak market competitiveness. The US trade war will bring a large-scale reshuffle movement to textile and apparel companies. Textile companies that fail to compete will inevitably be eliminated. Therefore, domestic textile and apparel companies must increase production capacity and efficiency, and gradually build brands and consumer influence in the US market. Strength, starting from the product grade, design ability and brand influence, build the enterprise's competitive advantage.
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