4.12.19

Trump's China Trade War IS WORKING, companies moving AWAY FROM CHINA

American blue chips such as Caterpillar and Deere and consumer companies like toy giant Hasbro and Roomba maker iRobot have all been hit hard by trade tensions between the United States and China.

But many midsized US companies are realizing that they need to diversify away from China and have already begun to take action.

Middle-market companies have started to shift their supply chains to other parts of Asia and are selling more to other countries to make up what they can’t sell to China.


That’s according to a survey released Wednesday by Portland, Oregon, based regional bank Umpqua.

Umpqua surveyed 550 executives at companies with between $10 million and $500 million in annual sales in October and found that 72% reported levels of uncertainty about the future of their businesses due to trade tension with China.

As a result, more than half said they are looking to diversify their supply chains — both domestically and to other international markets.

And nearly 20% of the respondents said they are searching for new customers in other markets, primarily in Europe, and other parts of Asia, Latin America and the United States.

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