CHINESE exporters are cautiously resuming shipments to the United States after a surprise tariff rollback by Washington and Beijing but remain wary of policy swings, reports Caixin
CHINESE exporters are cautiously resuming shipments to the United States after a surprise tariff rollback by Washington and Beijing but remain wary of policy swings, reports Caixin. Numerous companies are waiting for customs confirmation before dispatching goods and are speeding up efforts to diversify into domestic and Southeast Asian markets.
A joint statement pledged to reduce or suspend a significant portion of the punitive tariffs by May 14. The US agreed to cancel 91 per cent of its previous tariff hikes on Chinese goods and suspend 24 per cent of additional 'reciprocal' tariffs. China responded with identical cuts.
The headline reductions exceeded expectations and quickly rippled through China's manufacturing sector. 'We've been holding inventory in warehouses waiting for this,' said Yang Rong, head of Shenzhen Xiangfeiyang Technology, a clothing exporter. 'Now we're just waiting for a formal notice from US Customs before contacting our clients.'
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