US imports from China were much stronger in May than in April. Far from being depressed by repeated threats of new quotas and consecutive embargoes, shipments from China entered the US territory at a higher pace in the past month.
In category 335 (W/G cotton coats) for example, imports from China rose 2,817% in volume terms in May from the same month last year after "only" increasing by 588% and 749% in March and April, respectively.
In 342 (cotton skirts), entries were up 1,886% in May following a rise of 1,012% in March and 907% in April.
Growth rates in shipments were also higher in categories where US quotas were just reimposed.
In 338 (M/B cotton knit shirts), imports were up 2,043% in volume terms in May from the same month of 2004, compared with an increase of 1,025% in April.
In 339 (W/G cotton knit shirts), the rate nearly reached 3,000% in May after being limited to 2,100% in the two previous months.
China's share of the US import market is very rapidly rising as a consequence.
It jumped from 5.97% to 9.81% in category 338 in only one month, rising from 10.74% to 14.35% in 339.
China's share already reached 26.46% in major category 348 (W/G cotton trousers) while surging from 19% in April to 35% in May in category 445 (M/B wool sweaters).
China's shares fell in categories 332 and 632 by contrast, reflecting impact of the embargo that was imposed from mid-May.
Other embargoes could rapidly be reimposed in the coming weeks, given the current boom in shipments in other categories for which quotas were reinstated.
