Trump's sharp tariff hikes could speed up China's shift to new markets and offshore factories
Tuesday, 26 November 2024 () U.S. President-elect Donald Trump has threatened to sharply raise tariffs on all Chinese imports and close some loopholes Chinese exporters currently use to sell their products more cheaply in the U.S. If enacted, his plans would likely raise prices in America and squeeze sales and profit margins for Chinese exporters. Smaller Chinese companies like those in Yiwu β an eastern Chinese city that is home to the worldβs largest wholesale market β are bracing for the impact. Exporters are maneuvering to cope with the potential tariffs by becoming less reliant on the American market and selling more elsewhere. Some are moving production to Southeast Asia and elsewhere to avoid the duties.
Tuesday, 26 November 2024 ()
