Trump’s 100% China tariff threat sparks market jitters as exporters rush shipments
Some Chinese exporters are hoping for a last-minute reprieve like in the past, but most remain doubtful as November 1 effective date looms
Some hope that the tariffs might be lifted at the last moment, as has happened with previous measures, but most remain doubtful that there will be a reprieve this time around.
Trump on Friday announced an additional 100 per cent tariff on all Chinese imports from November 1, doubling down on his tough trade stance in retaliation for Beijing’s widened export curbs on rare earth materials and technologies a day earlier.
In some factories in China, the warehouse lights will stay on around the clock. Allen Yao, a digital equipment exporter from Guangzhou, a manufacturing hub in southern Guangdong province, said the only response he and his peers could make was to rush shipments.
“If the tariffs really kick in on November 1, most companies have no contingency plans,” Yao said.
“I could only try to schedule several containers today to ship before that date.