NEW YORK (AFP) - Big US companies are accelerating efforts to move more of their supply chains from China to neighbouring countries in light of Trump administration tariffs.. Read more at straitstimes.com.
NEW YORK - Big US companies are accelerating efforts to move more of their supply chains from China to neighbouring countries in light of Trump administration tariffs.
"We have a lot of questions from our members," said Sage Chandler, vice president of international trade at the Consumer Technology Association."Companies are trying to find ways to avoid having to pay 25 percent." Exports of computers and electronics from Vietnam to the United States have risen 71.6 per cent in the first five months of 2019 compared with the year-ago period, according to government data.
Xcel Brands, which owns Isaac Mizrahi, Judith Ripka and other fashion houses, will cease manufacturing in China in 2020, a big shift from two years ago when the country was the source of 100 percent of its merchandise. A decade ago, more than 90 per cent of US footwear was made in China. But today, the figure is 69 per cent, said Matt Priest, president of Footwear Distributors and Retailers of America.Yet shifting production outside of China to other Asian centres is not necessarily a panacea.
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