Recently, US Trade Representative Greer stated that the US is currently working with China to identify a batch of non sensitive import and export goods suitable for bilateral trade, in order to promote trade balance, in response to the US's $30 billion equivalent tariff reduction arrangement with China. Greer also emphasized that the US hopes to release a list of partially taxed goods around September 24th.

The spokesperson of the Ministry of Commerce of our country stated that the economic and trade teams of China and the United States are earnestly implementing the consensus reached at the Beijing meeting between the two heads of state, and are currently negotiating the framework arrangement for a $30 billion equivalent tax reduction, striving to implement it as soon as possible. If implemented, it will benefit bilateral trade in textiles.

At present, the Office of the United States Trade Representative is accelerating the process of reducing tariffs on approximately $30 billion worth of imported goods from China. It is worth noting that textiles, clothing, shoes, and hats have been included in the key consumer goods category for this tax reduction. For yarn, fabric, and ready to wear enterprises that are deeply engaged in exporting to the United States, this may be an important opportunity

From a longer-term perspective, the upcoming equal tariff reduction is a signal of temporary easing in bilateral trade. But the global textile trade pattern has long been reshaped, with textile production capacity continuing to expand in Southeast Asia and South Asia, and market share increasing day by day. The core competitiveness of China's textile industry can no longer rely on tariff dividends. The real breakthrough direction for textile enterprises still lies in differentiated product development, stable quality, flexible supply chain, and green low-carbon product layout.