Hannah Pedone
Morale was low in a WeChat group of roughly 250 Chinese manufacturers and e-commerce sellers late last April, when combined tariffs on Chinese imports to the United States sat at 145 percent. “This is it. The U.S.-China relationship is over,” said one member in the Chinese messaging app. “If only Kissinger were alive,” said another.
By September 2025, exporters in the group were feeling the effects of the highest statutory tariff rates on U.S. imports in over 100 years. The share of U.S. imports originating from China had plunged from a 2017 high of 22 percent to just 9 percent by July 2025, a low not seen since China’s accession year to the World Trade Organization a quarter of a century earlier.
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