Tuesday, July 17, 2018 | ePaper

Chinese exporters scramble to cope with Trump tariff hike

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 AP, Beijing :
Facing a possible U.S. tariff hike, one of China's biggest ball bearing makers, Cixin Group, is weighing plans to rush shipments to American customers before the increase makes its sales unprofitable.
The company in the eastern city of Ningbo is among exporters of goods from motorcycle parts to electronics that are scrambling to cope with President Donald Trump's higher duties by shipping early, raising prices or finding new markets.
The 25 percent increase would turn Cixin's profits to losses in the U.S. market, which takes 30 percent of its exports, according to Wang Liqiang, a company manager.
"We are considering manufacturing as many ball bearings as possible for the U.S. market before the imposition of tariffs," said Wang. "We can do it by working overtime."
Some companies are looking at ways to hide their Chinese origin by shipping goods through other countries.
"Maybe customers will buy from South America, and then South America sells to the U.S.," said Yvonne Yuan, a sales manager for Shenzhen Tianya Lighting Co., a manufacturer of LED bulbs.
Trump says higher duties on $50 billion of Chinese goods are meant to punish Beijing for stealing or pressuring foreign companies to hand over foreign technology.

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