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The US election has just settled, and it has already caused a big shock to the market.
In February this year, Trump said in an interview with US media that if he came to power, he would impose 60 percent punitive tariffs on China.
According to CITIC Securities estimates, if the "60% tariff" comes true, China's exports to the United States will fall by 16%, dragging down China's overall export growth rate by 2.3 percentage points, or $80 billion.
18, 19 years of the round of tariffs, eventually led to a large transfer of China's textile industry to Southeast Asian countries, re-export through transit trade, and according to Trump's remarks before, in order to return manufacturing, the current round of US tariffs may become universal, it is difficult to bypass tariffs through transit trade.
Trump's economic plan will trigger the "reflation risk" in the United States, supporting the strengthening of the dollar and the pressure on US Treasuries. Mr Trump's economic plans, if implemented in full, would lead to massive deficits. At the same time, domestic tax cuts, superimposed tightening immigration policies and additional tariffs will further amplify the contradiction between supply and demand in the United States, leading to the upward risk of "reflation" in the United States.
For textile enterprises, whether it is directly exported or re-exported through Southeast Asia, Mexico and other countries, the United States, as the world's largest consumer, is a market that cannot be ignored.
After the election of Trump, the market generally expects that the future tariff amount will increase, which may promote the order tide in the market to a certain extent.
On the other hand, if the external demand is reduced, in order to maintain the smooth operation of the economy, the domestic may adopt a larger stimulus consumption plan, the West is not bright in the East, the future domestic market may replace foreign trade as the main engine of economic growth to a certain extent.
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