Cotton Products In Xinjiang Have Been Seized By US Customs

 

Since June 2022, the US Customs will strengthen the inspection of cotton products imported from China. No matter what trade terms (LDP / FOB / CIF, etc.), the customs can directly seize the goods. Because of the differences at the top and the risk of being attacked by the Republican Party for "weakness in China", the Biden administration will still set up barriers for Chinese imports.

Recently, foreign minister Wang Yi said in a video conference that Sino US relations can not deteriorate any more and that correct choices must be made. It remains to be seen whether China US foreign trade environment can be improved.

As of May 19, Xinjiang cotton sales progress was only 49.3%, a year-on-year decrease of 47.7 percentage points. As the "double settlement zero" date of bank loans is approaching, the pressure on cotton enterprises to repay loans continues to increase, and the sales quotation has been lowered, which has brought a drag on Zheng cotton, once falling to around 20000 yuan / ton.

At present, the cotton price has been seriously damaged. Not only the ginning plants will lose money, but also the lending banks will face the huge risk that the enterprises can not repay. All parties appeal to the government departments to act as soon as possible to protect the cotton industry and cotton processing industry in Xinjiang, where policy intervention is likely to occur.