U.S. Customs strictly investigates and detains goods! Industry leader: Significantly reduce production to avoid goods being detained and suspended

Walrus New Material said that due to the US customs traceability requirements, the company's industry product importers need to submit raw material supply chain traceability information to the US Customs, at present, Vietnam Hai Xin is in the stage of cooperating with customers to submit materials, supplementary submission materials, and waiting for US Customs review, the final review results and review time will depend on the review of US Customs.

The export problem faced by Walrus New Materials to the United States is not unique.

Tianzhen Co., Ltd., which is also mainly engaged in PVC flooring products, said in the first quarterly report of this year that the reasons for the sharp decline in revenue and net profit said that it was mainly due to the US Customs requirements for supplementary customs clearance information for export goods, due to the wide range of supplementary information and the long review period, so that the company's goods exported to the United States could not be cleared in time, and the company's export business was not smooth, resulting in a decline in performance.

A freight forwarder said that a large number of semi-finished products were transported from China to ASEAN countries for assembly, and ASEAN exported the goods to Europe and the United States as the final selling country. The global economic downturn following the pandemic has greatly affected trade in this region.

A shipping company business officer said that in recent months, affected by the decline in terminal demand, Vietnam's imports of mechanical and electrical semi-finished products, chemicals, textile raw materials and products, plastics and products, ceramics and glass products from China have all dropped sharply compared with last year. In addition, due to seasonal factors such as construction, the import of infrastructure and construction materials from ASEAN countries has also decreased in recent months.

This has had a ripple effect on the performance of the manufacturing purchasing managers' index (PMI) in the ASEAN region, and since 2023, the manufacturing PMI of Vietnam and Malaysia has been below the 50% boom and bust line for many consecutive months; Manufacturing PMIs in Thailand and Singapore have fallen for three consecutive months and are now only slightly above the boom-dry line.