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Fibre2Fashion Toggle navigation 06 Pic: Shutterstock The Cotlook A index is expected to decline by 6.18 per cent in June 2021 to 85.12 cents per pound from 90.73 cents per pound in April 2021. It was 87.24 cents per pound in January 2021 and showed a sudden rise of 6.33 per cent in February 2021 to reach 92.76 cents per pound. It again declined by 2.19 per cent in March and April 2021, according to TexPro. The index is expected to decline in the short term due to the uncertainty surrounding the US exports to China. The political tension between the two countries may also lead to the Phase One Deal being abandoned. ....
Published February 15, 2021, 12:02 AM United States President Joseph Biden and China President Xi Jinping spoke by phone for two hours last Thursday. It was the first time for the two leaders to speak with each other since Biden assumed the presidency on January 30. That it lasted two hours speaks of the many concerns and issues between their two countries. During his term, former President Trump had started to impose sweeping US tariffs on Chinese imports for its alleged unfair trade practices that had led to a huge trade gap in favor of China. The US came to impose tariffs on $550 billion worth of Chinese goods, countered by China with its own tariffs on $185 billion of US goods. After so many talks between President Trump and President Xi and their trade officials, they signed a Phase One Deal on January 15, 2020, including a rollback of tariffs, expansion of trade purchases, renewal of commitments on intellectual property, technology transfer, and currency practices. ....
US-China trade war deal reaches first anniversary as bilateral mistrust hits ‘all-time high’ One year after signing, China lags far behind in its purchases of American goods and the trade imbalance with the US has grown But the agreement remains one of the only areas of cooperation between the nations as relations hit their lowest ebb in decades ....