Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Thursday, May 22, 2025
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Chinese businesses are moving away from the U.S. despite trade truce

May 20, 2025
in News
Reading Time: 3 mins read
A A
Chinese businesses are moving away from the U.S. despite trade truce
0
SHARES
ShareShareShareShareShare

READ ALSO

Nvidia’s Jensen Huang, semiconductor experts think U.S. chip curbs failed

Trump tax bill heads to the House floor for vote

Vessels carrying shipping containers sail near Kwai Tsing Container Terminal in Hong Kong, China, April 23, 2025.

Tyrone Siu | Reuters

The intense trade war with the U.S. has left lasting scars on Chinese exporters with many looking to diversify away from the U.S., despite the temporary tariff reprieves, a private survey found.

Based on a poll of 4,500 exporters across several major economies, trade insurer Allianz Trade found that 95% of Chinese exporters surveyed are planning on, if not already, doubling down on exporting to markets outside the U.S. for their goods.

The U.S.-China “decoupling” remains a likely scenario over the medium term, the survey said, as Chinese exporters look to pivot away from the U.S. and American firms accelerate efforts to shift production out of China.

An increasing number of firms surveyed are expecting a dent on export turnover this year due to the double-digit U.S. tariffs, the report said.

Even after the temporary tariff reduction following Beijing-Washington’s deal in Switzerland earlier this month, the U.S. trade-weighted tariff rate on Chinese goods remained at 39%, well above the 13% rate applied before the second Trump administration, according to Allianz Trade estimates.

The rapid de-escalation of the tariff spat has led to a large spike in U.S.-bound shipments as exporters front-load orders during the 90-day grace period, pushing up freight rates.

Chinese exporters in the coastal city of Ningbo are undeterred by the truce, and sticking with their plans to “go global”, said Tianchen Xu, senior economist at Economist Intelligence Unit.

In a recent report on a field visit to the city, which hosts China’s second largest port by cargo handled after Shanghai, Xu said Southeast Asia remained the top choice among local businesses seeking to move production overseas.

For Southeast Asia, companies show growing interests in setting up production in Indonesia, Xu said. On the other hand, perception was mixed about Vietnam, with concerns over rising costs weighing against an attractive labor force.

While the U.S. has hammered out trade deals with China and the U.K, talks with other long trading partners seem to have stalled.

Allianz Trade points out a sobering reality that global exports could see a loss of $305 billion this year on the back of the widespread trade conflicts.

In comparison, global trade hit a record $33 trillion last year, according to the United Nations Trade and Development.

Chinese businesses are moving away from the U.S. despite trade truce
Weekly analysis and insights from Asia’s largest economy in your inbox
Subscribe now

Credit: Source link

ShareTweetSendSharePin
Previous Post

Taiwan plans wealth fund to counter China with global expansion

Next Post

Trump signs bipartisan Take It Down Act to fight ‘revenge porn’ and deepfakes. Here’s what’s in it

Related Posts

Nvidia’s Jensen Huang, semiconductor experts think U.S. chip curbs failed
News

Nvidia’s Jensen Huang, semiconductor experts think U.S. chip curbs failed

May 22, 2025
Trump tax bill heads to the House floor for vote
News

Trump tax bill heads to the House floor for vote

May 22, 2025
Nike to resume selling directly on Amazon for first time since 2019
News

Nike to resume selling directly on Amazon for first time since 2019

May 22, 2025
OpenAI buys iPhone designer Jony Ive device startup for .4 billion
News

OpenAI buys iPhone designer Jony Ive device startup for $6.4 billion

May 22, 2025
Bitcoin slips after touching new all-time high, as rising yields pressure risk assets
News

Bitcoin slips after touching new all-time high, as rising yields pressure risk assets

May 21, 2025
Microsoft takes down Lumma Stealer malware network
News

Microsoft takes down Lumma Stealer malware network

May 21, 2025
Next Post
Trump signs bipartisan Take It Down Act to fight ‘revenge porn’ and deepfakes. Here’s what’s in it

Trump signs bipartisan Take It Down Act to fight ‘revenge porn’ and deepfakes. Here’s what’s in it

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

The Cost of Eating Well: How Price Barriers Are Reshaping America’s Relationship with Healthy Food

The Cost of Eating Well: How Price Barriers Are Reshaping America’s Relationship with Healthy Food

May 9, 2025
Uber inks robotaxi deal with Momenta to launch service in Europe 2026

Uber inks robotaxi deal with Momenta to launch service in Europe 2026

May 2, 2025
Arm (ARM) Q1 earnings reports 2025

Arm (ARM) Q1 earnings reports 2025

May 8, 2025
Buffett downplays recent market volatility as ‘really nothing,’ saying it’s part of investing

Buffett downplays recent market volatility as ‘really nothing,’ saying it’s part of investing

May 3, 2025
Yankees’ Trent Gisham’s ‘reset’ year adds value after Juan Soto loss

Yankees’ Trent Gisham’s ‘reset’ year adds value after Juan Soto loss

April 29, 2025
Shares in Chinese chipmaker SMIC drop nearly 7% after earnings miss

Shares in Chinese chipmaker SMIC drop nearly 7% after earnings miss

May 9, 2025
Lutnick warns no ‘fast deals’ for Japan and South Korea

Lutnick warns no ‘fast deals’ for Japan and South Korea

May 9, 2025

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Reggie Miller couldn’t help himself after epic Knicks collapse
  • Supercharging Food Packing Operations with Accessible AI
  • Target’s leadership shuffle: Can a new strategy reverse sales slump and DEI backlash?
  • Nvidia’s Jensen Huang, semiconductor experts think U.S. chip curbs failed

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In