Trade Wars Impose Additional Tariffs Of 15% On Textiles And The United States

The United States and China are faced with another group of imported goods being threatened by the new tariff imposed by the other side. The US move means that the value of US $31 billion will be increased by 15% of China's US textile, clothing and household textiles.

The total import duty of Chinese imports, including footwear, was officially opened in September 1st (2019) in 112 billion. This marks the latest progress in the trade war that has been burned for over a year.

Rick Helfenbein, President and executive director of American Apparel & Footwear Association (AAFA), writes that this represents a major upgrade of the textile, clothing and footwear industry in the United States, and a new tariff is imposed on 92% of China's apparel items and 53% of footwear products, and this tax point refers to corporate direct Taxation (Direct tax).

The United States imports $160 billion from China, including $4 billion 700 million worth of textiles, garments and household textiles, which will impose a 15% tariff from December 15th (2019).

If the tax measures are fully implemented, almost all Chinese goods exported to the United States will be worth about $550 billion - except for the relevant taxes imported by the United States from China, additional punitive tariffs will be imposed before the end of this (2019) year.

Beijing also plans to impose tariffs on more imports from the United States, including $19 billion 500 million worth of textile and apparel products. China's position will follow up tax increase after December 15th this year, which covers almost all imports from the US.

According to Helfenbein of AAFA, the US president's tariff strategy may drive the US economy to decline, plus the lack of alternative purchasing options, "prices will rise, sales will drop and job opportunities will be lost".

"Recently published articles point out that the rise of trade wars has proved to be an opportunity for large Chinese garment manufacturers already built overseas, especially in Southeast Asia, especially Vietnam. Chinese hosiery manufacturers can also benefit from the delay in new tariffs to December.

But some American brands and retailers are reducing the potential impact of new tariffs imposed on China.