The Implementation Of The So-Called Xinjiang Related Act In The United States Affects The Cotton Market

According to foreign media, the United States began to implement the so-called Xinjiang related act on Tuesday local time, requiring all companies importing goods, components and raw materials from Xinjiang to provide clear and credible evidence that there is no "forced labor".

The act treats all goods related to Xinjiang as "forced labor products" unless the importer can provide "clear and convincing evidence" that they are not "forced labor" products.

Professor Harlem, who has been reporting on the problems of tomato and polysilicon in the United Kingdom, has been quoted as saying by the U.K. government on the monitoring of tomato and cotton products.

In 2021, the United States imported 9 billion US dollars of cotton products from China, 20% of which involved Xinjiang cotton. With the strengthening of restrictions on Xinjiang cotton by the United States, the foreign trade orders of Chinese textile enterprises are mainly imported cotton, and the transformation of overseas orders for domestic cotton consumption is weakened. At present, it is difficult for the domestic consumer market to improve and promote domestic cotton sales, Generally speaking, the prospect of domestic cotton market is not optimistic.

In the domestic cotton market environment did not significantly improve the background, the cotton market continued to weaken the possibility.