Posted on 08/12/2019 7:29:38 PM PDT by cba123
BEIJING: Export-reliant Chinese companies are slashing prices, moving production abroad, creating new domestic markets and even rebranding goods as they try to survive the escalating trade war with the United States.
Factories along the eastern coast, fish processors in the south, apple juice exporters in central China and farmers in the northeast have all been forced to change their business models since US President Donald Trump launched the conflict more than a year ago, hitting everything from motorcycles to MRI machines.
But no matter what the survival tactic, times are tough and set get worse with newly threatened tit-for-tat tariffs meaning that virtually all trade between the world's two biggest economies would be covered.
"It's impacted all of us exporters ... we include the tariffs in our quotes now," a sales manager at Shaanxi Hengtong Fruit Juice, who gave his surname as Liu, told AFP.
Chinese apple juice exports have nosedived 93 per cent in the first half of the year since Trump hit them with tariffs in September last year.
Shaanxi Hengtong Fruit Juice, which sends almost all of its product abroad, and some of its subsidiaries had to pledge shares as collateral for loans last year.
One of its juice plants also put up dozens of its machines and appliances as collateral for another loan.
The fish processing industry has been hit hard too.
China is the main supplier of frozen tilapia to the American market, but those exports are also down this year and fish farmers have been forced to look inward.
"The United States is taking advantage of its market position and bullying the many scattered Chinese tilapia suppliers," the Hainan Tilapia Sustainability Alliance said on its WeChat account.
"The trade war is the last straw to crush the industry."
Read more at https://www.channelnewsasia.com/news/business/chinese-firms-learn-to-adapt-as-us-trade-war-rages-11802270
(Excerpt) Read more at channelnewsasia.com ...
I excerpted a bit of the article, please see the link for full article.
I would not trust any food from China.
I’m wiping the tears from my eyes as I read this story.
I don’t buy food from China anymore; especially tilapia
Be aware the majority of items possibly impacted this way, will NOT be foodstuffs.
The real impact, may be that Chinese production (may) itself start to move.
Not food. Though not importing consumables from China is in my own view, a sensible national approach, and should be strongly emphasised regardless of how the larger picture of global trade, may change go-forward.
If China buys our raw materials like farm products, and they send us electronics, we lose. Raw materials count very little in the exchange of goods. Wood, soy beans, copper, even oil are all raw materials. If we sell them goods they need to be processed. Our we should not have a trade deal. Just add a 50% tariff on everything we buy. We will pay the same because they devalue their own currency. And our government gets lot of money to help the farmers and our own budget. Every dime they make, is a dime going to their military.
#WINNING
It will help China’s Belt & Road project.
And
the latest:”U.S. to delay some China tariffs as officials hold discussions (stocks surge)”
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