US cuts garment imports from China, enhancing trade with other Asian nations
Date
12/11/2024 8:45:48 AM
(MENAFN) This decrease, motivated by the US-China trade conflict and worries over China's human rights breaches, has gave a chance for other Asian nations to enlarge their existence in the American clothing market.
In according with a current report by the United States International Trade Commission (USITC), China—once the major dealer of garments to the US—noticed its market share fell down by 16.4 percent between 2013 and 2023.
On the other hand, countries such as Vietnam, Bangladesh, India, and Cambodia have arisen as main beneficiaries of this transfer.
China's control in the US apparel market was once incontrovertible. Its large-scale manufacturing abilities, well-organized supply chains, and good pricing made it the go-to source for American stores.
Nevertheless, number of factors have reduced China's market share over the past ten years.
US-China trade conflict: The trade conflict, which started in 2018 under the Trump authority, forced tariffs on hundreds of billions of dollars' worth of Chinese imports, including clothing. These tariffs largely raised the charge of importing garments from China, urging US firms to discover other sourcing choices.
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