US importers rush in goods from China as Trump tariff threat looms
China finished the year strong after some companies stockpiled shipments of apparel, toys, furniture and electronics ahead of President-elect Donald Trump's plan to impose new tariffs that could revive a trade war between the world's economic superpowers.
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Trump, who has threatened to slap tariffs of 10% to 60% on goods from China, takes office on Jan. 20. During his first term, Trump mainly targeted Chinese parts and components. Economists and trade experts predict his next wave of tariffs could apply to finished goods.
«There has thus been an uptick in the exports of final goods from China to the U.S., as importers aim to front-run possible tariffs on consumer items,» said Frederic Neumann, chief Asia economist at HSBC in Hong Kong.
Chinese trade officials on Monday said December exports surged to record levels.
The large rise was in part a reflection of concerns about escalating trade protectionism, Lv Daliang, spokesperson for the Chinese customs administration, said at a press conference in Beijing.
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