Group 1 - The impact of US tariffs is increasingly reflected across various global industries, with US cotton exports to China plummeting by approximately 90% year-on-year as of June this year [1] - In contrast, US cotton exports to countries like Pakistan and Turkey have increased, with exports to Vietnam nearly doubling [1] - The initial announcement of a 145% tariff on Chinese goods by Trump in April was later negotiated down to 30% in May, but uncertainty in future negotiations has led many exporters to reduce exports to China and seek alternative markets [1] Group 2 - The decline in exports to China has resulted in significant pain for the US, with the USDA reporting a reduction in US cotton export volume to 2.613 million tons, a decrease of 109,000 tons month-on-month [2] - Cotton prices are currently low due to market downturns caused by tariffs, with benchmark New York cotton futures hovering around 66 cents per pound, down slightly from 69 cents at the beginning of the year [2] - China is actively seeking to reduce its dependence on US agricultural products, significantly lowering imports of US soybeans and corn, and is looking for cotton suppliers outside the US, with Brazil expected to be the largest cotton exporter to China in 2024 [2]

（文章来源：新华财经） 巴西对外贸易秘书处（Secex）数据显示，8月前两周，巴西出口棉花34,704.70吨，日均出口量为 3,154.97吨，较上年8月全月的日均出口量5,080.22吨减少38%。上年8月全月巴西棉花出口量为 111,764.74吨。 ...