The possible influence of Trump on the textile industry
The possible influence of Trump on the
2016 US presidential election results, Trump won enough electoral votes, made the election victory. What will Trump after taking office, may cause what impact on China's textile industry?
1、the China trade advocates tougher
Trump's trade policy showing the relative limit of foreign trade policy, and for the China trade tough attitude, especially Trump had argued that the high tariffs on imported goods. From the long run, the trade protection policy will weaken Chinese enterprise profitability or foreign trade such as the textile industry.
2、local trade war could erupt
Trump was elected, although the US comprehensive trade war unlikely, but due to fulfill campaign promises into consideration, will make some symbolic behaviour, It is expected that China and the US will increase the trade friction by raising tariffs or setting barriers for some Chinese goods.At present, textiles and raw materials is the third in the US’ imports from China, in 2015, amount of exports is $42 billion 620 million,accounted for 9% of the total U.S. imports.
3、abandon the TPP, China positive
As everyone knows, Trump is an active supporters against free trade, called for manufacturing jobs come back to the US, the Americans even threatened to quit the WTO!
As an important part of the US to return to Asia strategy, TPP is a small WTO whose total economic output occupy more than 40% of the global economy, just put China, the major economies in Asia excluded, although the US also welcome China to join the negotiations, but containing China in the economy is the intention of TPP. Although TPP isn’t directed against the textile industry, but more than a dozen members have attached great importance to the textile field, especially the US, Vietnam etc. Therefore, the agreement has caused widespread concern in the textile industry.
| There are both advantages and disadvantages, textile enterprises only harder to change, innovation, accelerate the internationalization, can ensure orders are not completely transferred and leave their own living space.|