At the Canton Fair, China's largest trade expo, exporters expressed concern over the impact of US tariffs, which have caused a significant slowdown in trade. With more than 30,000 exhibitors, the fair represented a critical moment for businesses seeking new markets as US orders have dropped drastically. The trade deficit with the US reached $295.4 billion last year, highlighting the importance of this relationship. Exporters are calling for extended deadlines from clients as they navigate these challenging conditions. The situation poses a dire threat to the Chinese economy, heavily dependent on US sales.
Kobe Huang, sales representative for Shenzhen Landun Environmental Technology, stated, "The crucial US market is ‘frozen.’ Customers haven’t canceled orders, but they’re pleading for extensions."
The Canton Fair attendees warned, “The US market is totally 'frozen.' Businesses are desperately looking to shift to other markets as US orders dwindle.”
With $400 billion in annual exports to the US and a $295.4 billion trade deficit, the impact of US tariffs is a serious threat to China’s economy.
Experts at the fair indicated that Trump's import taxes pose a significant risk to China's economy, heavily dependent on its trade surplus.
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