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Image source: China Visual Group
BEIJING, July 20 (TMTPOST) -- The share of China–made color televisions in total U.S. color television imports by unit plunged below 20 percent in February 2022 from about 60 percent in January 2019, but the share of made-in-Mexico color TVs by unit jumped to 60% in February 2022 from about 30 percent in January 2019, according to U.S. International Trade Commission data.
Data from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products show that the share of Chinese exports of color TVs by volume in the U.S. imported color TV market has been declining from 55 percent in 2018, 42 percent in 2019, 31 percent in 2020, 20 percent in 2021 to 19% in the first four months of 2022. The share of TV exports from Mexico, Vietnam and Thailand in the total U.S. color TV imports by units has increased to 76%, 5% and 2% respectively last year. In the first four months, the share of the exports from Mexico by units remained 76%, while the share of those from Vietnam and Thailand by units rose slightly to 7% and 4%, respectively. By contrast, the share of China"s exports in total U.S. color TV imports by value fell from 12% to 10%.
China"s manufacturing costs, including costs in labor, land, utilities, rent, taxes and fees, have increased in the past few years, reducing their cost advantages. To make it worse, the coronavirus pandemic has increased the cost of ocean shipping.
The zero tariff is the biggest advantage of Mexican exports to the U.S. market. According to the "U.S.-Mexico-Canada Free Trade Agreement," Mexican color TV exports to the United States have zero tariffs, while Chinese color TV exports to the United States are imposed with 11.4 percent tariffs.
Trade barriers, coupled with the impact of the pandemic,is prompting the global supply chain to move to the local market. Priorities given to low-cost production previously has been replaced by reliable production. Mexico has been the leading home appliance production base for the U.S. market since overtaking China years ago.
