Trump’s trade war feels much worse this time

Worrying trend: An employee works at a textile factory that produces silk products in Fuyang. Research shows that each 1% tariff rise will impact Chinese supplier margins by 0.35%. — AFP

ORDERS have evaporated for Richard Chen, who manufactures Christmas decorations in southern China for US retailers, including Walmart and Costco, facing crippling US tariffs.

“The orders are half of what they were last year,” said Chen, who is based in the manufacturing hub of Dongguan.