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From February 21st to 24th, President Xi Jinping's special envoy, member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and Chinese leader of the China-U.S. Comprehensive Economic Dialogue Liu He, U.S. Trade Representative Lighthizer, and Secretary of the Treasury Mnuchin held the seventh in Washington. Round of high-level Sino-US economic and trade consultations. The two sides further implemented the important consensus reached by the two heads of state in Argentina, negotiated the text of the agreement, and made substantial progress on specific issues such as technology transfer, intellectual property protection, non-tariff barriers, services, agriculture, and exchange rates. On this basis, the two sides will do the next step in accordance with the instructions of the two heads of state.

U.S. President trump tweeted on the evening of February 24 local time that he would postpone the deadline for raising tariffs on China on March 1 due to the "great progress" made in the latest round of Sino US consultations that ended in Washington on Sunday.

According to Bloomberg News, Trump said in a speech to reporters at the White House that news about China will be released in the next week or two. U.S. Treasury Secretary Mnuchin also said on Friday that the summit is tentatively scheduled to be held at Trump's Sea Lake Estate in Florida in late March.

At the same time, some analysts believe that the Chinese side's statement that the two sides will "carry out negotiations around the text of the agreement" is also worthy of attention, indicating that the negotiations have entered the final stage and began to prepare the text of the agreement, which was not found in the results of the previous consultations.

Delaying the March 1 deadline to more than double tariffs on $200 billion of Chinese exports to the United States would help ease investor concerns about rising trade tensions. The market heated up further as major progress was made in Sino-US trade talks over the weekend.

On the one hand, boosted by the good news on trade, both onshore and offshore renminbi rose sharply, hitting a seven-month high. On the other hand, all three major U.S. stock indexes also closed up. The Dow Jones Index reached the 26000-point mark for the first time since November last year and rose for the ninth consecutive week, the longest consecutive week of gains since May 1995.

The postponement of the "deadline" also relieved the textile industry. Taking cotton as an example, since the beginning of trade friction, the world's major stock indexes, cotton futures contracts and cotton spot have shown a trend of continuous volatility. The "January 2019 China Cotton Textile Industry Prosperity Report" released by the China Cotton Textile Industry Association on the 22nd showed that China's cotton textile prosperity index in January was 47.5, a decrease of 1.17 compared with December last year. However, the China Cotton Textile Industry Association also stated that the recent high-level economic and trade consultations between China and the United States have continued. At present, the negotiations between the two sides have a good momentum and increased the market confidence of enterprises. At the beginning of the new year, textile enterprises with strong product competitiveness started one after another. After the Spring Festival, the production and sales of enterprises have gradually returned to the right track, and it is expected that China's cotton textile prosperity index will pick up in February.

According to statistics from the US Office of Textiles and Apparel (OTEXA), from January to July 2018, China's textile and apparel exports to the United States totaled US $25.379 billion billion, and China accounted for 36.3 percent of the US imported textile and apparel market, a decrease of 1.8 percentage points from 2017. In the first 11 months of 2018, the United States imported 30.924 billion square meters of cotton, wool, man-made fibers and plant fibers from China, an increase of 5.8 percent over the same period last year. China is the largest source of textile and clothing imports in the United States. Once the tax is increased, it is bound to have a great impact on Chinese textile and clothing exporters and buyers.

According to the analysis of Soochow Securities, with the gradual elimination of the expected uncertainty, the focus of textile and garment enterprises can return to high-quality manufacturing after the order rhythm of the brand returns to normal. In 2019, the main factors affecting the short-term performance of high-quality manufacturing are the export environment, the RMB exchange rate, and raw material prices. There is some downward pressure on the export environment, but the impact of exchange rates and raw material prices is estimated to be relatively small, so high-quality manufacturing companies are expected to achieve stable performance.

Industry insiders believe that the textile industry should also pay close attention to changes in the situation in the future, continue to improve its own strength, and enhance its ability to prevent risks.