Tough times if you’re not pseudo-monopolies
“Small businesses that import goods made in China are taking actions—big & small—to try to outlast current 145% tariff regime on items from that country. But many are worried that their companies won’t survive.” https://t.co/rbqsczJlZL
China's US dollar-denominated exports to the United States declined 21% in April from a year earlier, compared with a 9.1% rise in March, according to data from the General Administration of Customs. China's exports excluding the US expanded 13%, including a 21% increase in https://t.co/FXOzheT1nD
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China's Exports to U.S. Drop 21% Due to 145% Tariffs, Surge Elsewhere Amid Geneva Talks
China's Exports to U.S. Drop 21% Due to 145% Tariffs, Surge Elsewhere Amid Geneva Talks
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China's exports to the United States fell sharply in April, declining by 21% year-over-year, as a result of the 145% tariffs imposed by the Trump administration. Despite this, China's overall exports increased by 8.1% year-over-year, driven by a surge in trade with other economies. This shift in trade patterns highlights the impact of U.S. tariffs on global trade dynamics.
The tariffs have also had a significant impact on the U.S. economy, particularly affecting small businesses. Reports indicate that small-business owners are facing steep tariffs, leading to layoffs and the withdrawal of personal savings as they struggle to maintain operations and hope for a trade deal. The situation has led to concerns about rising operating costs and potential price increases for consumers. This comes amidst calls for President Trump to stop the tariffs, with some describing his trade policies as reckless and failed.
In response to the tariffs, China is intensifying its economic engagement with Southeast Asia, aiming to mitigate the impact of the trade war with the U.S. This strategic move is part of a broader effort to diversify trade routes and strengthen economic ties in the region, as evidenced by recent diplomatic efforts and agreements. China's trade with ASEAN, Latin America, India, Africa, Vietnam, and Thailand has seen significant growth, while it also focuses on the Regional Comprehensive Economic Partnership (RCEP) and the Belt and Road Initiative. Amidst these developments, U.S. Treasury Secretary Scott Bessent is set to meet with Chinese officials in Geneva, though progress may be hindered by ongoing strategic disputes. Analysts from Capital Economics, including Zichun Huang, predict further declines in China's exports to the U.S., with not all losses being offset by increased trade elsewhere.
China's US dollar-denominated exports to the United States declined 21% in April from a year earlier, compared with a 9.1% rise in March, according to data from the General Administration of Customs. China's exports excluding the US expanded 13%, including a 21% increase in https://t.co/FXOzheT1nD
Tough times if you’re not pseudo-monopolies
“Small businesses that import goods made in China are taking actions—big & small—to try to outlast current 145% tariff regime on items from that country. But many are worried that their companies won’t survive.” https://t.co/rbqsczJlZL
Around the U.S., small businesses that import goods made in China are taking actions—big and small—to try to outlast the current 145% tariff regime on items from that country. But many are worried that their companies won’t survive.
@RSimon18
https://t.co/SJGMMaD2Oa
A Massive Shift in Tone from Bloomberg on China Trade Talks..
",,,the pain is too much to bear. The double squeeze from exports and imports compels China to pursue trade negotiations."
*Sky-high US tariffs are taking a heavy toll on Chinese exports, and China's retaliatory https://t.co/p9vN9wZTy6
In April, Chinese exports to the US plunged 21% year-over-year.
Nearly everywhere else in the world, Chinese exports surged. As a result, Chinese overall exports increased 8.1% year-over-year in April.
TARIFFS = BACKFIRE.
https://t.co/ZdFj6f7YpT
