The United States imposes tariffs on textiles and clothing, which will directly increase the export cost of China's textile and apparel and weaken the price competitiveness of related products.
The escalation of Sino-US trade friction has also directly accelerated the depreciation of the renminbi. In the one month since Trump announced the tax increase in April, the exchange rate of the RMB against the US dollar has depreciated from 6.7 to around 6.9. The depreciation of the currency can temporarily favor the export of products. However, the sharp depreciation of the currencies of Argentina and Turkey against the US dollar triggered a financial crisis, which led to the deterioration of the economic situation. The long-term impact of rapid currency depreciation on the market should not be underestimated.
At present, the structural adjustment of China's textile and garment industry is accelerating. DC Home Textiles is also transforming its marketing ideas and is committed to producing more quality products, offering more competitive prices and serving customers at home and abroad.
DC Home Textiles specializes in all kinds of sofa fabrics, including cotton fabrics, linen fabrics, and velvet fabrics. If you want to know more product information, please contact us.
HANGZHOU DC HOME TEXTILE CO.，LTD