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US businesses that rely on Chinese imports express relief and anxiety over tariff pause
- U.S. Treasury Secretary Scott Bessent announced in Geneva this weekend that both countries reduced tariffs, effective Wednesday, signaling a pause in trade tensions.
- The tariff cuts follow a series of U.S. Taxes since 2018, including Trump's recent 145% tariff being lowered to 30%, while China cut its rate from 125% to 10%.
- Chinese manufacturers resumed American orders and production, with firms like Yangjiang's Kahlee Yu preparing for negotiations and extending orders through June.
- Kahlee Yu expressed cautious hope regarding the trade agreement but warned that potential changes in tariff policies could lead to a halt in U.S. Orders, while Danny Lau noted that his aluminum-coating business remains subject to high tariffs and is not included in the current reductions.
- Despite market rebounds to pre-tariff levels, businesses remain cautious, delaying investments due to uncertainty and prior damage from April tariffs reducing orders.
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How 4 Business Owners Are Handling Tariffs on China
President Trump lowered his tariffs on China, and Wall Street breathed a sigh of relief. But for many businesses, especially small ones, 30 percent is still a crippling burden. The 145 percent tariff on Chinese goods that was in place for nearly a month was unthinkably high for businesses large and small. But the overall average tariff rate on imports to the United States remains at its highest level since 1934, according to a report from the Ya…
Ford CEO Jim Farley says company will be ‘advantaged’ around tariffs: ‘Fairest fight in decades’
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·New York, United States
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Leaning Left37Leaning Right14Center67Last UpdatedBias Distribution57% Center
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