Chinese fabric exporters anxious for US trade patch-up ...Middle East

News by : (Daily Sun) -

Her company, which relies on US customers for around half its client base, is one of many caught in the crosshairs as the standoff between Washington and Beijing has escalated this year.

“The situation will be very bad if this continues,“ she said, sceptical of claims her industry would be able to weather prolonged levies.

Sales to the United States made up 18 percent of China's total textiles and apparel exports in 2024, according to Moody's Ratings.

With a listed 26,000 shops selling everything from velvet to rayon to fake fur, it is touted as one of the world's busiest fabric hubs.

“Of course I am afraid,“ said one woman surnamed Li, who added that business was already affected by the global turmoil.

'Lose-lose scenario'

The subsequent tit-for-tat means many Chinese goods entering the United States now face duties of 145 percent -- with some specific sectors even higher -- while Beijing has hit back with 125 percent levies on most US goods.

Some of her colleagues' US customers have agreed to pay a 30 percent non-refundable deposit to initiate production, on the understanding that the whole order can be cancelled if the final tariff level after negotiations is still too high.

“We basically don’t dare to take US orders anymore,“ said 66-year-old Zhou, standing in front of swaths of khaki in various hues.

For companies like his daughter's, which dealt mainly with US clients, “the impact is huge”, he said.

Even the hint of de-escalation has brought some back to the table, with one exporter telling AFP a client who had suspended orders had recently given the go-ahead for production to begin.

“In the short term, we can manage, but in the long run, businesses can’t sustain it,“ she said.

“In a trade war, no one really wins. What we hope for is reconciliation, where everyone can coexist and prosper together.”

Read More Details
Finally We wish PressBee provided you with enough information of ( Chinese fabric exporters anxious for US trade patch-up )

Also on site :

Most Viewed News
جديد الاخبار