Part 3/10:
On the ground in Shandong, one factory owner expressed that their company, which has survived for 32 years and employs around 3,000 people, is experiencing unprecedented challenges. Historically, the US market accounted for about 30% of their total sales worth approximately 300 to 400 million yen. The gradual increase in tariffs over the years has compounded their issues, with the latest hike causing orders from the US to practically cease.
Factory lines that were once bustling with activity are now quiet, and many businesses have begun to lay off workers. For industries tied to low-end manufacturing, the implications of the trade war are severe, as competition drives down prices and profitability.