Big US companies are accelerating efforts to move more of their supply chains from China to neighboring countries in light of Trump administration ...
NEW YORK: Big US companies are accelerating efforts to move more of their supply chains from China to neighboring countries in light of Trump administration tariffs.
Some companies may be pushing the envelope a little too much, violating US rules against"transhipments," the routing of China-made goods through other countries to evade tariffs, legal experts say.President Donald Trump since last year has slapped 25 per cent duties on US$250 billion worth of Chinese imports and threatened additional levies on all other Chinese items coming to the United States - though the two sides agreed last month to hold their fire for now.
The pattern has also held for other machines and equipment, with exports from Vietnam rising 54.4 per cent over that period.Even before Trump targeted China on trade, US companies had been reducing their dependence on China because of increasing production costs and elevated transport expenses compared with other Asian countries.
This retooling, which was in the works prior to the tariffs, could boost profit margins, said Xcel chief executive Robert D'Loren. The trade war with China"accelerated our sourcing diversification efforts," he said. Companies can also run afoul of US law if goods are made in China and then sent to an intermediate destination to dodge US tariffs.
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