The instability of the international situation is bound to make 2018 an extraordinary year for China's textile and clothing industry. China imposes a 25% tariff on uncombed cotton. According to the tariff regulations, the 1% tariff will increase by 3400 yuan / ton compared with the RMB conversion price after adding 25% tariff to the import of American cotton at the same price， which undoubtedly makes the American cotton lose its price advantage.
Nearly 80 percent of U. S. cotton is exported, and China imports about 20 percent of American cotton, accounting for 40 percent of China's total cotton imports, losing U.S. cotton in the Chinese market and failing to sell well. As of November 8, this year, the United States has signed a cumulative net contract to export 2.191 million tons of cotton in 2018 / 2019, accounting for 66.14 percent of the expected annual export volume, and its China account for 16.63 percent of the signed cotton volume in the United States. The Chinese side cancels the import American cotton order the situation still exists, and the United States cotton exports encounter the hindrance ceaselessly pressure.
First, improving the financial services of export enterprises, especially export-oriented small and medium-sized enterprises, to solve the problem of difficult financing and expensive financing of enterprises and reduce the cost of capital. Secondly, we should increase the rate of export tax rebate properly, achieve full tax rebate as far as possible, at the same time, and further accelerate the progress of export tax rebate. Third, keeping the exchange rate of RMB stable and avoiding the rapid appreciation of RMB. Fourth, cleaning up all kinds of charges on export enterprises, reducing the burden of payment of export enterprises, and pushing forward the power of "cost reduction" in supply-side structural reform. Fifthly, we should continue to promote the reform of customs clearance facilitation, and shift the focus of the reform from compressing the limitation of customs clearance to reduce the customs clearance links, effectively reducing the cost of customs clearance.
Sino-US trade disputes provide an opportunity for Vietnam to increase its exports to the United States. Affected by the trade war, Chinese companies began plotting South-East Asia, including Vietnam for overseas markets. In the first 11 months of 2018, Vietnam's clothing exports to the United States reached $12.4 billion, up 9 percent from the same period last year.
At the beginning of the Sino-US trade war, Vietnam's textile industry was very worried that China's clothing exports to the United States were significantly reduced, which would lead to a sharp decline in China's imports of cotton yarn to Vietnam. But at present, the trade war does not have a negative impact on Vietnam cotton yarn to China's exports. Vietnam's exports of cotton yarn to China are expected to reach 780000 tons in 2018, up 9 percent year-on-year, according to Vietnam Customs. At the same time, Vietnam textile industry domestic and foreign investment also continues to increase.
In 2018, the total amount of yarn exports in Vietnam is expected to be 1.145 million tons,with an increase of 7% on a year-on-year basis, of which the export volume of cotton yarn is about 105 million tons. China, South Korea and Turkey are the biggest importers, accounting for over 80 percent of the total cotton exports in Vietnam. The decline in the Turkish exports to Turkey is completely offset by China and South Korea. Viet Nam will continue to expand its cotton exports to the above three countries with its geographical, cost and self-trade agreements.
Trying to reduce costs and enhancing the competitiveness of export enterprises
