Chinese exporters scrambled to respond to crushing US tariffs by hiking prices, cancelling shipments and rerouting goods to other countries, as the world’s two biggest economies brace for economic divorce.
The US president on Wednesday announced a 90-day pause in additional tariffs on most countries, but kept his 104 per cent tariffs on China and levied an additional 21 per cent to punish Beijing for retaliating.
In response, Chinese sellers on ecommerce platforms are raising prices by up to 70 per cent to US consumers, while others are preparing to exit the US market as punitive tariffs make trade unsustainable, according to one of China’s biggest ecommerce associations.
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