u.s.-china trade war is rerouting u.s. import flows: report - home appliances manufacturers in china
LOS ANGELES (Reuters)-
President Donald Trump's trade war with ChinaS.
Companies that change tariff purchases
According to a new analysis released on Wednesday, Target products such as furniture, refrigerators and car tires are sold to countries such as Vietnam, South Korea, Taiwan and Mexico.
Trump's decision to impose 10 to 25% tariffs on about $250 billion of Chinese goods angered the United States. S.
Retailers and manufacturers are working to avoid potential cost growth. Overall U. S.
Imports of container goods from China fell by 6.
4% in the first quarter, as the buyer processed the products in stock before the tariff increase, and changed the order to a lower product
Panjiva, a trade data company at S & P Global Market Intelligence, said in the report that the cost country. U. S.
Furniture prices from retailers such as Ikea, Home Depot, Target Corp and Room to Go fell by 13.
First quarter 5%.
This was partially offset by a 37.
Shipments from Vietnam rose 2%, up 19.
Panjiva said imports from Taiwan increased by 3%.
This change has also affected household appliances.
Chinese refrigerator imports fell 24.
Shipments from South Korea and Mexico jumped 31 age points to 1% in the quarter.
8% and 32% respectively.
"A major factor in this shift is the restructuring of the supply chain of Samsung Electronics and LG Electronics," Panjiva said in the report . ".
The auto industry is also rethinking trade routes.
Imports of tires from China have fallen sharply.
6% in the first three months of this year.
Meanwhile, the US governmentS.
141 from the harbor.
Products from Vietnam and 11 have surged.
Korean tire shipments increased by 1%.
Panjiva said Hankook tires and Nexen are among the suppliers to get a new business. U. S.
After China's trade dispute, companies are also shifting factory investment, and three economists estimate that the Chinese trade dispute has cost American companies. S.
Consumers and companies need $19. 2 billion. Ohio-
Cooper-based Tire & Rubber Company said in December that it had established a joint venture with Selen Vietnam Ltd.
Build a truck and bus tire factory near Ho Chi Minh City, Vietnam.
Christopher Eperjesy, Cooper's chief financial officer, said in February: "We are excited about the increase in the manufacturing footprint, which has diversified our procurement to withstand risks, including tariffs . ", When the company announced $34 million
The value of China's joint venture manufacturing projects has declined.