Page 11 - May-June-2018

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US imposes 25% tariff on Chinese

imports - China hits back

US government has imposed 25% tariffs on Mr Matthew Shay, NRF president and CEO said,
technological imports worth $50 billion from China. "Tax reform has increased the paychecks of
In retaliation Chinese government has announced American workers, encouraged US companies to
to reciprocate the import tariffs on US imports. expand and invest in their workforces, and
unleashed the strongest levels of consumer
Mr Donald Trump, President of the United States confidence in a generation. Unfortunately, these
said, “The United States will pursue additional tariffs tariffs and the retaliation from China has put all this Projected growth in tech-textile
if China engages in retaliatory measures, such as economic progress at risk. Once again, we urge the
imposing new tariffs on United States goods, administration to change course and develop a
services, or agricultural products; raising non-tariff clear and comprehensive strategy to hold market to reach €184 billion and
barriers; or taking punitive actions against American China accountable.”
exporters or American companies operating in China.”
US started collection of duties on 818 Chinese
“Chinese imports will boost China’s growth but hurt imports valued at $34 billion from 6th July and a 5.9% CAGR by 2022
the United States,” added Mr Donald Trump. second set of 284 goods valued at $16 billion also
undergoes an additional process of review and
However, National council of textile Organization public comment. In 2017 the tech textile market was estimated at €138 “Asia-Pacific dominates the textile coating market with
representing domestic textile manufacturers billion and by 2022 it is expected to grow at a China as the largest consumer of textile coatings
appealed and succeeded at the removal of all The U.S. textile and apparel industry keeps a close compound annual growth rate of 5.9% and reach worldwide. Other emerging important countries are
textile machinery products from the final list of tariff watch on the U.S.-China trade dispute since as €184 billion. This boost is generated by the increase the UAE, Argentina, India, Australia, South Africa,
lines as the tariffs would hinder the US textile much as 36% of U.S. textile and apparel imports in demand of end use industries, increase in end use Malaysia and Chile. Moreover, the ensuring increase
manufacturer’s competitiveness. come from China. U.S. fashion brands and apparel applications including new end uses where non-textiles in investments and rise in number of manufacturing
retailers remain deeply concerned about Trump’s are used and favorable conditions of the countries. establishments are expected to lead Asia-Pacific as
Mr Auggie Tantillo, NCTO president and CEO said, tariff action and its potential negative economic the prime driver for the growth of coated textile.”
“NCTO is pleased that some textile products are on The global coating market which is protective textile
the second list. It would have a greater deterring impacts on the apparel sector. In contrast, the U.S. used to safeguard personnel from coming in contact The global coating market is projected to reach €11
effect, however, if more textile and apparel end textile industry, represented by the National Council with hostile elements or environments, amounts to billion by 2022 and grow at a CAGR of 6.8% over the
products were included.” of Textile Organizations (NCTO) praised the Trump €4.7 billion and by 2021 it is expected to grow at a next decade. The global fire resistant fabrics market
administration’s tariff announcement. NCTO also CAGR of 3.5% and reach €5.8 billion. by 2021 is expected to grow at a CAGR of 5.3% and
National Retail Federation (NRF) criticized the called on the Trump administration to include reach €4.5 billion because of its increased demand
imposed tariffs on American consumers since it will finished textile and apparel products on any future Mr Marc Van Parys, president of Unitex, a nonprofit by end use industries including chemicals,
strain families working on a budget by raising lists of imports from China to be made subject to organization for the textiles industry, said, construction, manufacturing, oil and gas.
consumer prices. Section 301 tariffs.

May/June 2018 May/June 2018