china confirms that new tariff hurts the business

The ten months old trade war between china and us escalated when the president of united states initiate new tarrifs plans and hike the goods prices by 200%. On both sides of the Pacific, importers and exporters are scrambling as further tariffs of 15% come into effect, on top of the 10% duties imposed last September. The new tariffs will force them to raise prices, take a further hit on margins, or, if they can, find alternatives. Chen figures he has stock to last three months, after which – barring an easing in the increasingly bitter U.S.-China trade war – he plans to focus on partnerships with wine suppliers from places such as Chile or Australia.



Stone said he and his distributors had shouldered the initial 10% tariff last year. “Over the long term, we believe the market can absorb the 10%, but we know the marketplace can’t absorb the additional 15,” said Stone, who sources the luxury vinyl tile he sells in the United States from factories on China’s eastern coast. “This will go straight to the consumer and no one knows whether their buying habits will stay the same. There is a risk.” “The importer told us right away that due to tariffs, the next time you buy it from me, my cost is going to go up 30-40%,” said Dmytro Soroka, Gusto’s operations manager. “And we were like, forget about that one, there are other pork suppliers out there. There’s Spain, there’s South America … The price going up will only make other products that we carry from different origins more interesting to our customers.”



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