For China’s companies, the direct impact of the trade war is limited - the lower tariff base of the United States and China's higher export tax rebates and the depreciation of the renminbi will bring short-term risk hedging, but due to the current domestic economic situation Clearly, the downside risks increase, and the indirect effects of the trade war may be concentrated after October, and the chain reaction of trade wars will sweep the entire manufacturing industry. For the zipper industry, the impact of the trade war is relatively small.