Factory owners in China’s Guangdong Province said that they are planning to produce outside China, given the existing tariffs and uncertainty about future U.S. trade measures. Angelo Cheung, a Hong Kong-based executive for Aoyagi, a Japanese electronics group that manufactures in China, told Financial Times that some orders from the U.S. had already been halted because of the increasing uncertainty. Cheung said his company is considering various options including moving part of its supply chain to Vietnam. Now with tariffs on made-in-China products set to rise, nations like Cambodia and Vietnam turn out to be more attractive than ever for U.S.-based consumer-goods makers that have factories in China. Some of the names on the list are now Steven Madden Ltd., Tapestry Inc.’s Coach and Vera Bradley. Steve Lamar, executive vice president of the American Apparel & Footwear Association, told Bloomberg that “the shift has been under way” and that the talk of tariffs has created “a lot of anxiety” and companies are gauging how fast they can make more changes to their sourcing. Interviews with over a dozen manufacturers from medical device makers to agricultural equipment firms illustrate how companies exporting to the U.S. are now rethinking about making goods… Read full this story
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