CX Daily: Chinese Firms Set to Seek Alternative Sources for Key U.S. Imports
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Chinese firms set to seek alternative sources for key U.S. imports
As Washington and Beijing continue to go toe-to-toe with tariffs, Chinese companies are expected to seek alternative sources for affected goods, such as soybeans, while accelerating efforts toward technological self-sufficiency, analysts said.
The State Council, China’s cabinet, on Wednesday announced an additional 50% retaliatory tariff on all U.S. imports, bringing the total levy to 84%. U.S. President Donald Trump then raised the overall tariff on Chinese goods to 125%, while announcing a 90-day pause for countries hit by his “reciprocal tariffs.”
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