US ban on all products from China’s Xinjiang nears as Senate passes forced labour bill. #MacroEconomy
BIG POSITIVE for COTTON TEXTILE
US Senate passes a bill to ban all products from China's Xinjiang.
Textiles (especially cotton and blended textiles)
~Produces 80% of China's cotton.
~35% market share in apparel exports of the global trade.
Textile Industry: Big step forward