China Turns To Nigeria, Others, As US Markets Freeze

Product manufacturers in China have turned their attention to Nigeria and other emerging markets following the imposition of trade tariffs on their products by the US President, Donald Trump. Trump, on April 2, slapped a 46% tariff on Vietnam and a 17% levy on the Philippines before paring those back to 10% for the next three months as he begins bilateral negotiations on trade with about 75 different countries.

Manufacturers say that after Washington raised tariffs on Chinese goods by 145%, U.S. orders for products have vanished.

Kobe Huang, sales representative at Shenzhen Landun Environmental Technology, which makes water filters and smart toilets, says that for now, European sales are up, but the U.S. market is “frozen.”

U.S. customers and distributors haven’t cancelled orders, he said. “They have asked us to hold on. We are holding on.”

No other country comes close to matching China’s sales of more than $400 billion in goods to the U.S. each year. Despite the tariffs on China, exports from China to other countries, including to Nigeria, have surged.

A poll by AFP said China is expected to post first-quarter growth of around five percent on Wednesday, buoyed by exports. Analysts polled by AFP forecast the world’s number two economy to have grown 5.1 percent from January to March.

Credit: channelstv.com

The post China Turns To Nigeria, Others, As US Markets Freeze appeared first on The Ghanaian Chronicle.

Read Full Story