The General Administration Of Customs Issued The Detailed Rules For The Implementation Of American Cotton Import

The General Administration of Customs issued the detailed rules for implementation. Since 12:01 on April 10, 84% of the current applicable tariff rate will be levied on all imported goods originating in the United States. For goods that have been shipped from the place of departure before 12:01 on April 10 and imported from 12:01 on April 10 to 24:00 on May 13, no additional tariff will be levied.

Therefore, some international cotton merchants and enterprises judge that there will still be a certain amount of 2024/25 American cotton arriving at China's main ports and customs clearance before mid April to mid May, with resources of 31-3/31-4/21-3 36/37/38 medium and high grade fine wool cotton and Pima cotton are mainly purchased by cotton textile enterprises/traders above designated size.

According to the USDA Export Weekly Report, in the five weeks from February 28 to April 3, 2025, the Chinese mainland will cancel the 2024/25 US cotton contracts of 8868 tons, 11200 tons, 612400 tons, 4831 tons and 040800 tons respectively, and the number of contracts broken in the past three weeks will show a significant downward trend.

According to the industry analysis, statistics show that, as of March 13, although the Chinese mainland had only signed a total of 170600 tons of American cotton (accounting for about 7% of the total annual contracted amount of American cotton by the end of the week), the cumulative shipment progress has reached 85%, so the number of American cotton that can be cancelled and shipped in the Chinese mainland in April and later is not large.

According to the survey, some textile enterprises in Qingdao, Zhangjiagang, Wuhan and other ports have recently adjusted the resources of American cotton, Brazilian cotton, Australian cotton and other resources. The industry analysis may be mainly affected by the Trump government's continued imposition of tariffs on Chinese imports and the cancellation of the 800 dollar "small amount exemption" treatment for express packages entering the United States from May 2 The export of Vietnam/Indonesia/Malaysia/Cambodia/Pakistan and other countries' "third parties" encountered negative impacts such as resistance, and the growth of new export traceability orders was weak. In addition, some export-oriented enterprises accelerated their shift, and the export to domestic sales increased. The industry's internal volume intensified. The spinning profit was further squeezed and diluted. On the contrary, the revenue from customs clearance and adjustment of external cotton resources for cotton enterprises was slightly higher.