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| Tariffs on imports from China will soon cause irreversible damage |
| Washington, 14.04.2025 |
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| The Donald Trump administration's tariffs on Chinese imports will soon cause irreversible damage to many American companies. TASR reports this based on a CNBC report.
US President Trump on Saturday (April 12) waived tariffs on imports of smartphones and other hardware from chips to computers, but for most of the American economy and small businesses, the damage caused by the 145 percent tariffs on Chinese imports will soon be irreversible.
According to supply chain executives, cancellations of orders for goods and the halting of shipments of goods from China are quickly becoming the norm in the trade war between the US and China. Companies in various sectors of American industry have completely stopped container exports.
"Furniture manufacturers in China have seen a complete halt in orders from American importers, and we are hearing the same in the areas of toys, clothing, footwear and sporting goods," said Alan Murphy, founder and CEO of Sea-Intelligence.
“We’ve seen the same thing happen across Southeast Asia, but after the 90-day tariff moratorium, those orders have started to pick up again,” said Brian Bourke, chief commercial officer of SEKO Logistics. However, the cancellation of orders for imports from China continues.
“Almost everything is on hold when it comes to trade with China,” said Alan Baer, CEO of OL USA.
According to Stephen Lamar, president of the American Apparel & Footwear Association, the sudden policy changes and high tariffs are disrupting supply chains to a level not seen since the pandemic. “With tariffs on imports from China to the U.S. at an unsustainable level, many companies have no choice but to cancel orders,” Lamar said.
“The constant changes mean that new tariff costs cannot be calculated or predicted until the goods arrive at the port, and high tariffs lead to bills that companies cannot pay. This is not a risk or burden that small businesses can afford.”
With no alternative supply on the horizon for many of these companies, especially small businesses, this sudden lack of orders will immediately translate into lost sales and widespread product shortages. “Extending the trade war pause on imports from China to the US is needed now, before the damage is irreversible,” Lamar added.odkaz na stránku |
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