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The effects of US tariffs are beginning to take their toll on Chinese industries, with production cuts, layoffs, and even the mid-ship abandonment of containers already sailing toward the United States before or after passing through the Panama Canal. The most extreme case is the abandonment of cargo that had already been chartered for the United States, which companies are giving away to shipping companies or transport firms to avoid paying the taxes they would have to pay to import it into the United States. Chinese manufacturers across a wide range of sectors – from petrochemicals to printed mugs – have been quietly but rapidly moving to set up new American facilities in recent weeks, as they try to dodge the worst effects of an intensifying US-China trade war. Chinese exporters in a slew of industries are setting up US facilities to escape crippling tariffs – but doing so is often far from easy.
newsroompanama.com
The Effects of US Tariffs are Beginning to take their Toll on Chinese Industries & Panama Canal - Newsroom Panama
An aerial photograph shows the Shanghai Container Terminal in Shanghai, China.
newsroompanama.com
