Chinese companies' exports are not optimistic, the US textile industry seeks new trade barriers
The quota for Chinese textiles and clothing imports to the United States will expire on December 31 this year, but Chinese textile and clothing export companies cannot be blindly optimistic, because in order to prevent Chinese textiles and clothing products from entering the US market in a post-quota era, the US textile industry New trade barriers are being sought to restrict the import of Chinese textile and apparel products. The National Council of Textile Organization (National Council of Textile Organization) pointed out in its latest year-end industry report that with the abolition of China's textile and apparel import quotas, it is almost certain that the US textile industry will also seek new restrictions to hinder Textiles and clothing products subsidized by the Chinese government have flooded into the United States. Although the report did not specify the form of such restrictions, it said that the National Association of Textile Organizations has begun to seek some strategies so that the import restrictions on Chinese textile and apparel products can be maintained in 2009, unless the Chinese government truly Comply with the promises made when joining the WTO and stop subsidizing the textile and clothing industries. This report by the National Association of Textile Organizations pointed out that the value of China’s textile and clothing exports to the United States increased by 4.5 billion yuan last year, while at the same time, the United States’ imports of textiles and clothing from other countries fell by US$2 billion, from Lesotho to El Salvador, from Pakistan to Mexico, almost every large exporter of textiles and clothing products was significantly affected in 2007. However, the report also pointed out that in 2007, the US government introduced some new trade methods to deal with China’s trade issues. For example, the Ministry of Commerce changed a 20-year-old non-market economy countries such as China and other non-market economy countries. The approach allows US companies to file anti-subsidy lawsuits against Chinese manufacturers. According to the National Association of Textile Organizations, the Chinese government currently provides at least 63 different subsidies to the textile industry. These subsidies are all subject to investigation according to this policy change of the Ministry of Commerce. The report stated that the United States currently implements a dumping monitoring mechanism for textile exports from Vietnam to conduct anti-dumping investigations in a timely manner. This practice has set a precedent for the implementation of this mechanism against similar countries, and this monitoring method may be used against China in the future. In addition, the report noted that some members of Congress are also actively promoting a bill against China that requires China to revalue the renminbi, otherwise it will impose punitive tariffs on products imported from China. Trade statistics show that in 2007, the trade deficit between the United States and China reached 256.2 billion yuan, an increase of 10% over 2006. In terms of trade in textiles and clothing products, the US trade deficit with China increased by 20% in 2007, from US$26.6 billion in 2006 to US$31.8 billion.