US firms fear retaliation to Donald Trump's tariffs will be 'final nail in the coffin' of exports to China
2019-05-10 09:34:31 source：South China Morning Post
May 10, 2019
As the United States prepares to increase tariffs on US$200 billion of Chinese goods to 25 per cent from Friday, American companies are fearful China’s retaliation will kill off their exports to the world’s biggest consumer market.
After the US government confirmed the tariff increase from 10 per cent to 25 per cent by filing a notice with the Federal Register, the official portal for public policy updates, Beijing said it “will have no choice but to implement countermeasures”.
Jaime Castaneda, senior vice-president of the US Dairy Council, said much of his industry was already hit with a 25 per cent tariff by China last year, which caused total dairy exports from the US to China to plunge by 48 per cent in 2018.
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