The United States strengthens the control of Xinjiang-related products, how much is the Xinjiang textile industry affected?
2022-10-03
Gester Instruments
339
According to feedback from some textile and clothing foreign trade companies in Shanghai, Jiangsu, Zhejiang and other places, American buyers and retailers have recently requested that Xinjiang cotton cannot be used in their orders (the processor must provide a certificate of origin of cotton), mainly due to the US Department of Commerce, the Ministry of Finance, and the State Council in early July. and other departments issued the 'Xinjiang Supply Chain Business Consulting Announcement', claiming to strengthen Xinjiang-related export control and sanctions. In addition, the U.S. government requires U.S. persons and non-U.S. persons to gradually close transactions with entities in which Xinjiang Production and Construction Corps directly or indirectly owns 50% or more interests by September 30, 2020; the related parties cannot be closed before September 30 transactions, you will need to seek guidance from the U.S. Treasury Department. In order to reduce trouble and avoid risks, some American customers have explicitly proposed that Xinjiang cotton be banned from orders. Export-oriented textile and garment enterprises and foreign trade companies in domestic coastal areas said that since the recovery of orders from US buyers from June to August was much slower than that of Europe, the Middle East, Japan and South Korea, the“short, flat, fast”The contract is mainly used, so it has an impact on the consumption demand of Xinjiang cotton, but it is not prominent. The enterprise solves it by purchasing high-quality bonded cotton in the port and customs clearance. According to industry insiders, if the United States threatens customers in other regions to ban the use of Xinjiang cotton, it will have an adverse impact on my country's textile and apparel exports, which are just getting better, especially for orders exported to Europe and the United States, which are mainly high-end, high-end and high-profit products.
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