UK high streets fashion brands to get
£830 million boost package
The Joe Biden-led new US government is continuing with the
Section 301 tariffs on finished apparel and textile imports from
These tariffs were first imposed by the US in May 2019 to
address intellectual property theft and other predatory trade
practices by China. Since then, a number of tariffs and counter
tariffs were imposed on import of goods.
However, due to the COVID-19 pandemic, the US government gave
exclusions on some Chinese products, including textiles and
apparel, which have now been extended till March 31, 2021.
Meanwhile, the Chinese government has reduced sliding tariffs
on cotton cargoes imported under additional quotas.
It has increased the number of products with lower than MFN
tariffs and imported under temporary import tariffs from 859
earlier to 883 from January 1, 2021. The lower sliding tariffs
would reduce the cost of importing cotton fibre into China,
according to market analysis tool TexPro.