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Insight | Time:Jul 12 2018 2:20PM
Textiles included in the list of $200 billion worth of Chinese imports released by US
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Trump administration proposed to levy additional 10% tariffs on $200 billion worth of Chinese imports and released the list on Tuesday US time, hinting that China-US trade war intensified further. The initial list includes most textiles and a few apparel. The proposal will not be implemented at once. The hearing will be held on Aug 20-23 and the result may be released on Aug 30. The list covers products under over 6000 HS codes.

The proportion of Chinese textile exports in output value is lower than that of apparel.

Cotton spot
Proportion of export delivery value of textile and apparel industry in output value
  2015 2016 2017 2018 Q1
Textile 12.60% 12.40% 12.40% 12.80%
Apparel 21.60% 20.80% 20.30% 18.80%
Remark: the data is calculated on basis of enterprises above designated size.

From above figure, the export delivery value of textile enterprises above designated size only took up just over 12% of total output value and kept stable in recent years. That of apparel enterprises above designated size accounted for about 20% in total output and declined in Q1 2018.

Proportion of Chinese textiles exports to US is lower than that of apparel.

Chinese textile and apparel exports to US take up a large proportion of total textile and apparel exports.

Cotton spot
China’s textile and apparel imports & exports in 2017
Unit: 100mln USD Export Import
Total Textiles Apparel Total Textiles Apparel
World 22634.9 1104.9 1581.1 18409.9 173.8 71.8
US 4297.5 123.9 330 1539.4 7 0.4
US share 19.00% 11.20% 20.90% 8.40% 4.00% 0.60%
Source: China Customs

It can be seen that China’s goods exported to US took up 19% in total exports, of which textile exports shared 11.2% and apparel exports 20.9%. Proportion of textile and apparel output value was low in China. The textile exports to US were roughly estimated less than 2% of total textile and apparel output value, while apparel exports less than 10%. Therefore, the impacts of planned additional tariff on Chinese textiles were lower than on apparel.

If US conducts the additional tariff on $200 billion worth of Chinese imports, not only US consumption will be affected, but also China’s. Overall consumption will slide. It is noteworthy China’s response to this news. Whatever, China-US trade relationship will get worse further.
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