Posted on 05/13/2019 1:28:57 AM PDT by Zhang Fei
BEIJING — Chinese exporters of all sorts of products, from power adapters and computers to vacuum cleaners, are anxiously hoping trade talks in Washington this week will yield a deal that might stave off higher U.S. tariffs on imports from China.
Companies across China are bracing for a tariff hike on Friday after President Donald Trump, complaining Beijing was backtracking and the talks on a festering trade dispute were taking too long, said he would raise import duties on $200 billion of Chinese goods to 25% from 10%.
Amber Chen, sales manager for a vacuum cleaner manufacturer based in southern China, says her company has $100 million in exports to the U.S. at stake.
“I really hope that the two countries can reach an agreement,” Chen said in a phone interview. “We just can’t swallow the costs of a tariff increase.”
Many Chinese companies are reluctant to speak publicly about their problems, especially those linked to sensitive topics such as the ruling Communist Party’s policies on trade and technology.
But sales managers of five Chinese companies that depend heavily on exports to the U.S. told The Associated Press that while they have managed to adjust to current tariff levels with minimal trouble, a jump to a 25% tariff would make doing business with the U.S. virtually impossible for most of them.
“If the tariffs rise to 25 percent, then we’re done for,” said James, a sales manager for a computer monitor manufacturer in Shenzhen, China’s southern tech hub.
He declined to give his full name. He said 30% to 40% of his company’s products are exported to the U.S.
If the tariff increase goes ahead, the impact will be deeply felt by small- and medium-sized enterprises, said Shawn Yang, sales manager for a company in Shenzhen that produces electric power
(Excerpt) Read more at marketwatch.com ...
In a psuedo-Communist government, who directs the revenue and production of business?
In the end, who pays the tariffs in a psuedo-Communist country and who pays the tariffs in a market-capitalist country?
To paraphrase Dr. Milton Friedman, who is free to choose?
The Chinese will be dumping more cash than ever into their democrat allies pockets to get rid of Trump. They are probably thinking they can wait him out.
To POTUS, just do it.
I agree, but In this case I think Wallyworld and Amazon are tied at the hip. They’ll both be in a world of hurt. It will be interesting to see which is more fleet footed in finding new suppliers.
Someone Remind me WHAT in the heck we need China for? At All???
95% of what Walmart sells is made in China........
Corporations need China to exploit slave labor, bribe them with money, bribe politicians with money thru K Street, to make a quick buck while at the same time giving away all the technology we have developed over the last 100 years.
So tell me why a 25% tariff will cause WalMart to LOSE ALL OF THEIR CUSTOMERS? LOL!!!!
Any serious discussion about China is eventually stopped by the "sensitive" refrain, played like the race card by ChiComm™ officials ...
Who are they, to hold an opinion contrary to 'experts?'
Trump realizes that our huge consumer market is our most powerful weapon. By manipulating trade we can win wars without firing a shot.
So does this mean I’ll pay 25% more for the patio umbrella, that I bought at Costco, which broke the second day I had it?
At least you got one good day out of it.
I’m totally good with this. Where are the old Dems saying we need to share the pain to get better?
True, India, Vietnam, and other countries in the neighbourhood picked up the work to manufactured components and small sub-assemblies.
These suppliers to China can step up and ship to the US, rather than to China, for further processing into a retail product
They have the google built social media scorekeeping system.
Step out of line and you become a non-person
Either that or you just won’t buy it at the higher price.
Ideally some entrepreneur in the USA would start making patio umbrellas that are much better quality while coming close the the post 25% tariff price.
In reality, we’re going to see a little less Made in China and more Made in India.
We just need to move our suppliers to other places including back home. Then if we do get a trade agreement China will never recover.
There is only one manufacturer of vacuums that I buy: Dyson.
Sometimes, business is harassed by Government entities such as OSHA.
That regulatory cost adds to reasons to move to China and Mexico.
If we want the remaining regulations to have teeth, we must tariff China to level the playing field.
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