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Many businesses are now reevaluating their strategies and trying to negotiate costs with exporters. With the air freight market also witnessing a decline—projected to drop by nearly 90%—the consequences of these tariffs are severe for both sides.
Challenges for Chinese Manufacturers
Manufacturers in China are in a dire situation, with many halting production as clients cancel orders en masse. The textile, electronics, and automotive industries are particularly hard hit. Reports from Guangdong highlight how factories are filled with goods intended for export that now have no buyers. Business owners have expressed despair as profit margins evaporate, leaving them in precarious financial situations.