Part 6/9:
Michael Hart, chairman of the American Chamber of Commerce in China, confirmed that some member companies reported they had not incurred new tariffs on imports, indicating that the exemption policy has already made its mark.
The Economic Reality Behind the Facade
Deep beneath the surface, China’s strategic changes signify a reaction to substantial economic pressures. U.S. tariffs, reaching as high as 145%, have severely impacted Chinese exports, with statistics suggesting a drastic 45% downturn in booking container volumes on China-U.S. routes. Current experts predict that the ongoing trade conflict could spiral into a structural crisis within China's manufacturing sector, leading to widespread unemployment and hampering supply chains.