Chinese exporters scramble to cope with US tariffs
BEIJING — Chinese exporters were scrambling Monday to cope with a plunge in U.S. sales while China’s state press shrugged off the impact of Washington’s tariff hikes in a spiraling technology dispute.
The impact of Friday’s tariff hikes on the world’s second-largest economy should be limited, according to private sector analysts. But President Donald Trump’s measures targeting Chinese medical, construction and factory equipment hit exporters that say price-conscious American customers have stopped buying.
The general manager of a medical device exporter that makes 15 to 20 per cent of its sales to the United States said he plans to fly there this week to negotiate with customers who stopped ordering its syringes and other equipment.
Wuxi Yushou Medical Devices Co., Ltd., with a workforce of 500, stands to lose 30-40 million yuan ($4.5 to $6 million) in annual revenue, according to the manager, Miao Liping.