Chinese exporters are heartened by lower US tariffs following a summit between leaders of the two economic superpowers Thursday, but say they’re still keen to hedge exposure to any future setbacks in bilateral trade ties.
For buyers and sellers alike of consumer goods in the US, the risks of relying solely on China for production for everything from fast fashion to holiday ornaments have begun to outweigh the country’s edge as a low-cost production hub. Even with the trade truce, US retailers aren’t likely to reconsider plans to move supply chains out of China and Chinese manufacturers are committed to expanding exports to markets beyond the US to limit their vulnerability.
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