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textile and garment: trade friction has limited influence on textile and garment industry -凯发k8旗舰厅

issuing time:2018-12-10 10:59

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us president donald trump has signed a memorandum of understanding (mou) to impose 25 percent tariffs on chinese imports worth between $50 billion and $60 billion annually, according to media reports. at the same time, president trump directed the treasury department to set limits on chinese investment in sensitive u.s. technology.

affected by this information, investors worry that the export of textile enterprises with higher overseas income contribution may suffer a setback. on march 23, the stock prices of relevant companies have suffered a significant decline: shenzhou international dropped 5.42%, tianhong textile dropped 5.39%, huitai textile dropped 3.67%, rutai a dropped 3.71%, and chaoying international dropped 0.49%. we believe that the stock price adjustment on march 23 is an overreaction of the market, that the fundamentals of the textile industry are sound and that china's textile and garment industry enjoys a solid leadership position in the world.

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from the perspective of chinese export, chinese textile and garment enterprises have limited dependence on the american market. china's textile and apparel exports totaled $268.6 billion in 2017, with the u.s. accounting for 17% of the total, still lower than the eu's 18.2%.

from the perspective of american import, chinese textile and garment enterprises are an important supplier of american apparel market. according to u.s. customs statistics, from january to november 2017, the united states imported 108.4 billion u.s. dollars of textiles and clothing, of which 39.4 billion u.s. dollars was imported from china, accounting for 36.4% of its total imports. take individual enterprises as an example, as nike's largest apparel supplier, shenzhou international takes up 12-14% of its orders.

to sum up, in the textile and apparel industry, the united states is highly dependent on china, while china is generally dependent on the united states. because of china's leading processing technology and market share, as well as the bargaining power of enterprises, tariffs will only increase the purchase cost of overseas consumers. in addition, if the export efficiency to the united states is not good, the superior production capacity can also be transferred to other consumers. because of this industry in the united states does not exist between the two countries directly industry competition, and now the united states on chinese clothing textile tariffs have higher (10 ~ 20%, 11%, such as sports shoes, knitwear. 20%), and further raise the tariff is not a benefit to the united states: purchaser because of difficult to find instead of a third country will face a huge pressure.


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