The US and China have signed a “30-for-30” blueprint, under which each will weigh lower duties on around $30 billion of goods bought from the other.
However, Chinese made home textiles have made to the list of approved product lines like electric blankets, woollen blankets, certain bed linen, table linen, kitchen and bathroom fabrics, curtains, soft furnishings, etc.
Apparels are conspicuously missing and have been left out of the blueprint of tariff reduction proposals.
China’s offer is far broader, reaching 1,619 American product lines across farm goods, foodstuffs, energy, consumer items and medical equipment. Both lists draw on 2024 trade figures and could be lengthened at a later date.
Because clothing is left out, the scheme does not directly unwind the duty-driven rebalancing that has rewarded suppliers in Vietnam, Bangladesh, India and elsewhere.
Home textiles are another matter. Should duties on Chinese bed linen, table linen and furnishings eventually be trimmed, American importers may find themselves with a sharper contest among suppliers.
The plan follows proposals published by the newly created US-China Board of Trade. Nothing has yet changed at the border: both governments must still complete their own legal processes before any rates or start dates are fixed.
Image courtesy: Freestockcentre
