In recent weeks, the USA and China have outbid each other with mutual tariffs – to the detriment of trade relations.
However, US wholesalers such as Walmart do not appear to want to do without Chinese goods: They instructed companies in export-heavy provinces to resume deliveries.
Some manufacturers in Jiangsu and Zhejiang – industrial and export centers of the Chinese economy – have been asked by large American companies to resume shipments to the US. The immense import duties of 145% are to be borne by US customers, reported the South China Morning Post. Chinese companies would not be burdened with the additional costs.
At the beginning of the tariff dispute in April, many US importers postponed or cancelled Chinese orders. Compared to the same period last year, orders plummeted and there was a sharp increase in empty runs from China to the US.
The tariff dispute between the US and China has continued to escalate in recent weeks. President Trump recently imposed tariffs of 145% on Chinese goods; some product groups are even subject to tariffs of up to 245%.
The response from Beijing was prompt: US goods are also subject to 125% tariffs in China. This made the mutual sales markets effectively irrelevant and trade collapsed.
In recent days, Trump seemed inclined to reach an agreement with China on de-escalating the trade war. China also emphasized its willingness to talk, provided the talks were held on an equal footing. A phone call between Trump and Chinese President Xi Jinping, as claimed by the White House, has not yet taken place, according to Beijing.
– Hansa.News Global
