💨 Abstract

Chinese furniture manufacturer Jin Chaofeng set up a factory in Vietnam to avoid US tariffs but now plans to close it due to new tariffs imposed by Washington on Vietnam and the rest of the world. The tariffs are impacting China's two main strategies to counter the trade war: moving production abroad and increasing sales to non-US markets. The tariffs could reduce Chinese exports to the US by 30%, decrease overall exports by more than 4.5%,

Courtesy: theprint.in

Summarized by Einstein Beta 🤖