Latest news with #ChinaInternationalConsumerProductsExpo
Yahoo
11-05-2025
- Business
- Yahoo
Stephen Miller Says 'History Will Record' Trump's Tariffs As The Start Of Saving The West From China's Economic Domination'
A new round of tariff hikes from President Donald Trump's administration has reignited trade tensions between the world's two largest economies. "History will record that the actions President Trump has taken in recent days were the beginning of saving the West from complete economic domination by another power," White House Deputy Chief of Staff Stephen Miller said in an April 13 interview on Fox News, referring to China's growing influence over global supply chains. He described the latest tariff policy as "a turning point in U.S.-China relations." Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — The new tariff plan began with a 10% baseline on foreign imports, announced earlier this month by the White House. It was followed by steep reciprocal tariffs that brought the total levies on Chinese imports to 145%, combining the original 20% duties and an added 125% retaliatory hike. China responded with tariffs of its own, hitting U.S. goods with 125% duties. The standoff amounts to a mutual trade embargo impacting nearly $600 billion in annual trade. The effects are already filtering down to American households. Baby strollers, car seats, and other child-related goods—many of which are produced in China—are getting pricier and scarcer. According to the Associated Press, Munchkin CEO Steven Dunn warned that domestic manufacturers lack the skilled labor, automation, and tooling expertise needed to replace imports—raising fears of potential product shortages. Trending: How do billionaires pay less in income tax than you?. Small retailers are feeling the pressure, too. Business Insider reported Alter Ego Comics in Lima, Ohio, is facing supplier price increases of up to 34%. Store owner Marc Bowker said his business is struggling to keep margins stable, and that passing the costs on to customers may not be enough to cover the rising expenses. China has responded by seeking out alternative markets. Euronews reported on April 19 that trade fairs like the Canton Fair and China International Consumer Products Expo are key platforms, with many exporters exploring markets in Europe and investing in overseas production facilities to strengthen their global presence. This strategy aims to diversify their supply chains and improve resilience in the face of trade aerospace industry has also been affected. Last month, Reuters reported that China has halted imports of Boeing aircraft and is shifting its purchases to domestic manufacturers like Comac. This development poses a challenge to Boeing Co. (NYSE:BA), a major U.S. exporter. In the same interview, Miller accused China of "decades of intellectual property theft, industrial espionage, currency manipulation, and targeted dumping." He added it was "shameful" that the U.S. had allowed core elements of its critical infrastructure to depend on Chinese supply chains. While Miller praised Trump's strategy as overdue, The Guardian reported concerns among economists that a prolonged standoff could spark a mild U.S. recession and weaken its position in global financial markets. Read Next: Nancy Pelosi Invested $5 Million In An AI Company Last Year — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? BOEING (BA): Free Stock Analysis Report This article Stephen Miller Says 'History Will Record' Trump's Tariffs As The Start Of Saving The West From China's Economic Domination' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Euronews
20-04-2025
- Business
- Euronews
Chinese exporters seek new markets to offset US tariff impact amid trade war
ADVERTISEMENT Chinese exporters have begun seeking new opportunities to tap into global markets in the face of the ongoing trade war with the United States. Key to this are trade fairs, where many can showcase their products and create sales channels to offset tariff impacts, with the end goal of finding other opportunities beyond traditional markets like the US. Of the several trade fairs, two major trade fairs—the Canton Fair and the China International Consumer Products Expo (CICPE)—serve as key platforms for businesses. The booths of this year's Canton Fair in the southern Chinese metropolis of Guangzhou, Guangdong Province, are highly sought after among Chinese exporters hoping to build new business relationships in alternative markets. "We will surely expand our markets abroad besides the United States. This product is a key focus at present. It has up-to-date functions. Clients from Poland and the Netherlands wanted to sign an exclusive distribution agreement with us right here," said Tang Shousheng, an exhibitor. Beyond sales expansion, Chinese exporters are also investing in overseas production facilities to strengthen their presence in global markets. Quest to diversify and keep resilience "We plan to invest 10 million yuan (about 1.37 million U.S. dollars) in building overseas factories. In fact, we have already found local suppliers for essential components such as plastics, SMT (surface-mount technology) patches, and packaging materials like colour boxes," said Huang Shuyu, an exhibitor. Organisers of the Canton Fair say around 31,000 firms are participating in this year's fair, which runs till 5 May, up by nearly 900 compared with the previous one. At the just-concluded CICPE, many Chinese exporters tried to diversify their brands and supply chains, hoping to ensure they remain resilient in an unpredictable trade environment. Some businesses are introducing proprietary brands tailored to specific international markets and to expand their domestic market share. "We started to launch our own brands last year, and these products have performed very well in the Russian market," said Ran Yan, an exhibitor. Related China appoints a new trade negotiator during tariff fight with the US EU navigates China trade dilemma: Defending against imports, courting investment Despite the trade disruptions, many exhibiting businesses remain committed to global expansion "We have not given up the global industrial layout in terms of our overall brand strategy," said Li Rongsheng, said one exhibitor. The US and China are locked in a trade row that has seen Washington impose tariffs of more than 145 percent on Chinese goods entering the US. In March, China's exports jumped 12.4% from last year in a last-minute flurry of activity as companies rushed to beat increases in the tariffs, and analysts forecast sharp setbacks.
Yahoo
19-04-2025
- Business
- Yahoo
Chinese exporters seek new markets to offset US tariff impact amid trade war
Chinese exporters have begun seeking new opportunities to tap into global markets in the face of the ongoing trade war with the United States. Key to this are trade fairs, where many can showcase their products and create sales channels to offset tariff impacts, with the end goal of finding other opportunities beyond traditional markets like the US. Of the several trade fairs, two major trade fairs—the Canton Fair and the China International Consumer Products Expo (CICPE)—serve as key platforms for businesses. The booths of this year's Canton Fair in the southern Chinese metropolis of Guangzhou, Guangdong Province, are highly sought after among Chinese exporters hoping to build new business relationships in alternative markets. "We will surely expand our markets abroad besides the United States. This product is a key focus at present. It has up-to-date functions. Clients from Poland and the Netherlands wanted to sign an exclusive distribution agreement with us right here," said Tang Shousheng, an exhibitor. Beyond sales expansion, Chinese exporters are also investing in overseas production facilities to strengthen their presence in global markets. "We plan to invest 10 million yuan (about 1.37 million U.S. dollars) in building overseas factories. In fact, we have already found local suppliers for essential components such as plastics, SMT (surface-mount technology) patches, and packaging materials like colour boxes," said Huang Shuyu, an exhibitor. Organisers of the Canton Fair say around 31,000 firms are participating in this year's fair, which runs till 5 May, up by nearly 900 compared with the previous one. At the just-concluded CICPE, many Chinese exporters tried to diversify their brands and supply chains, hoping to ensure they remain resilient in an unpredictable trade environment. Some businesses are introducing proprietary brands tailored to specific international markets and to expand their domestic market share. "We started to launch our own brands last year, and these products have performed very well in the Russian market," said Ran Yan, an exhibitor. Related China appoints a new trade negotiator during tariff fight with the US EU navigates China trade dilemma: Defending against imports, courting investment Despite the trade disruptions, many exhibiting businesses remain committed to global expansion "We have not given up the global industrial layout in terms of our overall brand strategy," said Li Rongsheng, said one exhibitor. The US and China are locked in a trade row that has seen Washington impose tariffs of more than 145 percent on Chinese goods entering the US. In March, China's exports jumped 12.4% from last year in a last-minute flurry of activity as companies rushed to beat increases in the tariffs, and analysts forecast sharp setbacks. Sign in to access your portfolio
Korea Herald
18-04-2025
- Business
- Korea Herald
Over 4,100 brands from 70+ countries and regions on display at the 5th CICPE
HAIKOU, China, April 18, 2025 /PRNewswire/ -- A report from HIMC: On Apr. 13, the 5 th China International Consumer Products Expo (CICPE) opened in Haikou, capital city of Hainan Province. This year, over 1,700 companies from 70+ countries and regions put more than 4,100 brands on display at the event. "The Hainan Expo gave me a sense of the huge potential of China's consumer market," said Ramel François Félix, CEO of Vignerons du Castelas, who is attending his 5th CICPE in a row. Over the past four years, he has met over a hundred Chinese business partners at the Expo, greatly facilitating his business. As China's only national-level consumer product themed expo, China's huge market advantage makes attending the Expo very attractive. There are several notable differences at this year's Expo. Exhibition groups from Slovakia, Singapore, Brazil, and several other countries attended for the first time, special exhibition areas for AI and the low-altitude economy were a new feature, and an online pre-matching plus in-person in-depth negotiation supply and demand matching model also debuted. As of Apr. 16, the midpoint of the Expo, a total of 150 billion yuan ($20.56 billion) of transaction agreements had already been made, with 52 project agreements signed in three official supply and demand matchmaking meetings. Twenty of these were signed at country-specific sessions, with Chinese and international exhibitors reaching agreement for a wide variety of procurement and transaction projects. At this year's Expo, Hainan also welcomed large numbers of new orders and collaborative agreements. Many project agreements in the areas of autonomous driving, smart transportation infrastructure, and smart travel services were achieved. Hangzhou's Unitree Robotics exhibited varieties of robot products, and received many orders from Hainan for items related to university-level scientific research, public security patrols, and other fields. The Fosun Tourism Group announced that ULTRAMED, a major tourism and cultural project, will open in Haitang Bay, Sanya. There was a sense of great openness both inside the venue as well as outside. Unlike in the past, many international exhibitors and buyers no longer needed to apply for visas to participate, thanks to Hainan's 59 Country Visa Free Entry Policy along with nationally applicable comprehensive bilateral and unilateral visa-free policies, which combined permit travelers from 77 countries to enter Hainan visa free. In Hainan, special management measures for cross-border trade in services and greater market access for foreign investment access have been implemented. The province is also accelerating the exploration and establishment of a coordinated model for domestic and international investment access suited to the unique conditions of the Hainan Free Trade Port (FTP). This year, special customs operations will be established in the FTP. "The institutional opening advantages of Hainan will become more and more available, bringing greater investment opportunities." William Huang, EY China South Managing Partner, believes that thanks to the opportunities brought by the CICPE and the favorable development conditions of the Hainan FTP, more multinational companies will increase their presence in Hainan.
Yahoo
15-04-2025
- Business
- Yahoo
China freezes Boeing jet sales in trade tit-for-tat with Trump: Report
China has ordered its airlines to ditch jet deliveries from Boeing following days of back-and-forth with President Trump over hikes in tariffs. The president's 145 percent levy on Chinese goods drove the decision, according to Bloomberg, which first reported the stalemate on Tuesday. As a result, the company's stock saw a 1.46 percent drop as of midday on the New York Stock Exchange. Prior to tariff tensions, China cut Boeing deliveries by 84 percent over the past five years compared to sales in the previous five-year period, The Wall Street Journal reported. The stark decline came after the U.S. manufacturer's fleet saw two 737 Max plane crashes occur in 2018 and 2019. Boeing and the White House did not respond to The Hill's request for comment on paused transactions, however, Trump did address the matter on Truth Social. 'Interestingly, they just reneged on the big Boeing deal, saying that they will 'not take possession' of fully committed to aircraft,' the president wrote in a Tuesday post, where he also slammed the nation for being 'brutal' to American farmers. China's leaders have also not publicly commented on the ruptured business exchange, but Bloomberg reported they've asked air service providers to freeze the purchase of aircraft-related equipment and parts from U.S. companies. The measure comes as Beijing has doubled down on its promise to fiercely oppose the change in U.S. trade policy which it regards as a violation of the World Trade Organization's mandates. China imposed a 125 percent tariff on American goods Friday after Trump issued a 90-day pause for his country-specific tariffs Wednesday, except for products from China. Amid tension, China lauded the opening of its fifth China International Consumer Products Expo in addition to its biannual Canton Fair focused on imports and exports. 'The success of these events says a lot about the resolve and confidence of all parties in strengthening trade and economic cooperation and resisting unilateralism and protectionism,' Foreign Ministry spokesperson Lin Jian said during his Tuesday press briefing. 'In a world full of uncertainties, China will continue to seek joining hands rather than throwing punches, removing barriers rather than erecting walls, and promoting connectivity rather than decoupling,' he continued. Its leaders said they would be open to talks with the U.S. after burgeoning tariffs but noted that any proposed conversations must include fair gains for both sides. 'If the U.S. side really wants to talk it should show an attitude of equality, respect and reciprocity,' Lin said last week at his daily press briefing, according to a translation from Reuters. 'If the United States ignores the interest of the two countries and the international community and insists on fighting a tariff war and a trade war, China will certainly accompany it to the end,' Lin said Thursday. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
