The prices of consumer goods for daily life have thus soared significantly, with the price of shoes rising by 39% and that of T-shirts by 37%. Food giants including Pepsi and Quaker Oats have also applied to the White House for exemptions from cocoa bean tariffs, as once the tariffs are raised, the prices of products such as chocolate and cereal will inevitably rise. This chain reaction has also spread to the textile sector, and domestic retailers and consumers in the United States are directly bearing the cost pressure brought by the tariffs.
25 countries have suspended parcels sent to the United States, and small-scale cross-border trade in textiles has cooled down
In addition to the high tariffs, another adjustment of the US trade policy has further exacerbated the predicament of the global textile industry. Starting from August 29th, the United States officially abolished the tax-free treatment for imported parcels valued at 800 US dollars or less. This policy, known as the "minimum rule", was once a "booster" for small-scale cross-border trade in the textile industry. After the policy raised the tax-free threshold from 200 US dollars to 800 US dollars in 2016, The scale of global small-scale textile exports (such as designer brand samples, custom fabrics, etc.) has grown by an average of 15% annually, benefiting small and medium-sized textile enterprises in China, India, South Korea and other countries.
Now that the policy has been cancelled, enterprises engaged in small-scale textile exports around the world have generally been affected. According to data from the Korea Textile Association, the country's export volume of small textile packages to the United States has decreased by 62% compared to the previous period. Some enterprises, in order to survive, have instead transferred their goods to Mexico and Canada and then entered the United States through the North American Free Trade Area to avoid high tariffs. However, this undoubtedly increases logistics and time costs.
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