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The Influence of Donald Trump Election for China Textile Industry
time2016/12/23
- Donald Trump was elected the next president of the United States on November 9, 2016, at 1:40 am Eastern time. He will be the president in American history who don’t have any previous political experience. So what significant impact will be caused on China textile industry from this election?
Donald Trump was elected the next president of the United States on November 9, 2016, at 1:40 am Eastern time. He will be the president in American history who don’t have any previous political experience. So what significant impact will be caused on China textile industry from this election? Well, Donald Trump has expressed that if elected, will levy 45% of the heavy taxes for the goods which imported from China.
Analysis thinks, although the trump to impose a 45% tariff (the goods imported from China) policy in reality may not be able to get the implementation, but is likely to impose punitive tariffs on imports of certain goods from China, for example in the field of textile chemical industry such as steel and rubber products. Once that, the China’s export will be affected, in the meantime, the trade is likely to enter a “frozen time”. In the current under the condition of China's economic growth is slowing, it is bound to increase more downward pressure on China's economy. It is understood that the United States is still the main engine drive of China textile clothing export growth in the future for a long period of time , the most of the textile enterprises think the export situation is not optimistic. If after the tariff increases, China's textile export situation will meet crisis, and also to our textile machinery industry and textile accessories supplier.
But Donald trump has made it clear in his speech, will not allow America to join the trans-pacific partnership (TPP). He thought the agreement is “the attack on American business”, is a “bad deal” . If the United States to withdraw from the agreement, the agreement will be failed, China can avoid adverse economic impact due to be excluded from the trade agreements.
This election is very favorable for China's textile industry to create a good international environment. But, we must realize soberly, the impact of TPP to China's textile industry is also not underestimated. Of course, as the supplier of China quality textile machinery accessories -- Strength also have very strong sense of crisis, and will effort to innovation, accelerate the internationalization, to set aside space itself, guarantee the order quantity.