Weigh! China And The United States Formally Sign The First Stage Economic And Trade Agreement, And The Textile Industry Will Usher In A Substantial Positive.

On January 15th, the signing ceremony of the first stage economic and trade agreement between China and the United States was officially held in the White House. At the signing ceremony, the Political Bureau of the CPC Central Committee, vice premier of the State Council and Liu Hu, the Chinese leader of the Sino US comprehensive economic dialogue, said in his speech that China and the United States should start from the overall situation, face differences, control differences and reach the first stage economic and trade agreement, which is beneficial to China, to Yu Meiguo and to the whole world.

After the speech, the CPC Central Committee Political Bureau member, the vice premier of the State Council, the Chinese leader of the Sino US comprehensive economic dialogue, Liu He and the US President Trump formally signed the first Sino US economic and trade agreement at the White House.

A statement issued by the Chinese side pointed out that after the joint efforts of the economic and trade teams of China and the United States, the two sides reached agreement on the Sino US economic and trade agreement on the basis of the principle of equality and mutual respect. The agreement includes 9 chapters, including preamble, intellectual property rights, technology transfer, food and agricultural products, financial services, exchange rate and transparency, expanding trade, bilateral assessment and dispute settlement, and final provisions. At the same time, the two sides agreed that the US side will fulfill relevant commitments to phasing out tariffs on Chinese products at a phased stage, so as to achieve a shift from increased tariffs to lower tariffs.

In December 31st, the United States Trade Representative Office (USTR) announced the seventh batch of products under the list of $200 billion plus tariff products. This exclude a total of 68 products, including 8 textile and clothing products.

As the situation improves, the textile industry needs to boost confidence.

Under the situation of international political turmoil, the formal signing of the first stage economic and trade agreement between China and the United States will bring substantial benefits to the textile industry after the start of the year.

As we all know, the textile market suffered a decline in 2019. The most important reason is the Sino US trade besides overcapacity. The face of the US side has seriously affected the export situation of foreign trade enterprises. Some enterprises have said that the US company has suspended the company for an indefinite period due to tariff issues. Not only foreign trade, but also domestic trade. Your customers always want to export. At present, the Sino US trade has finally brought substantial positive news, which is a major boost to the textile industry.

Now this time node, most of the weaving enterprises have entered the holiday mode, basically no longer orders, but after the beginning of the year, it will usher in the traditional textile industry "gold three silver four", backlog of a year's beauty list, perhaps in the "gold three silver four" will focus on the outbreak. According to the analysis of the industry, if the negotiation of the second stage agreement can be smooth, the market situation of next year will surely be greatly alleviated.