SHANGHAI: President Donald Trump’s move to slap tariffs on at least $50 billion in Chinese imports is likely to be bad news for many of China’s exporters – as well as Americans who like wearing Victoria’s Secret bras, Guess jeans or Nike sneakers.
A vast amount of items used by US consumers – from Under Armour leggings to Bath & Body Works shower gel and Samsonite luggage – are sourced from Chinese or Hong Kong based companies and factories, fuelling the US$450bil in Chinese goods imported to America annually. Broad-based tariffs, which the US said would be a 25% duty, may translate into higher sticker prices in stores across the US.
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