European Exporters in China Shift Trade to Avoid US Tariffs

European companies that export from China are changing the global flow of their goods to avoid higher American tariffs, a business group said Tuesday, in a sign of the spreading impact of the US-Chinese trade war.


Tariff hikes are "hitting immediately the bottom line" of companies that rely on the flow of components and finished goods across countries, said Mats Harborn, president of the European Union Chamber of Commerce in China.

Companies are "scrambling to readjust supply chains" so goods bound for the United States don't pass through China, Harborn said at a news conference. He said one has shifted final assembly of goods from China to a newly created American unit.
   (Tasnim)
 10/7/18