US EditionAsia's factory activity worsens as US trade uncertainty bites
GUANGZHOU, GUANGDONG PROVINCE, CHINA, AUG 1 – Factories in Guangzhou face a 24% drop in exports to the US amid tariffs of 30% or more and loss of duty-free treatment for small packages, increasing costs and reducing orders.
- Amid high summer heat and trade frictions, factories in Guangzhou faced 96-degree conditions and were half dark after bearing the brunt of President Donald Trump's tariffs.
- After spring's reciprocal trade measures, Trump imposed tariffs of 30% or more and removed duty-free treatment for packages valued at $800 or less, limiting access to the American market.
- Li Aoran reported China's exports to the United States dropped 23.9% from April through June, and his electricity bills increased $1,000 a month, `I hope the situation will improve and our business will be better,` Li said.
- As factories shed jobs, Li trimmed his workforce from nearly 50 to 20 workers, and Vietnam, competing manufacturing destination, has absorbed many low-wage jobs fading in China.
- As demographic pressures mount, workers hope trade relations with the United States will stabilize soon, amid annual births of 10 million or less for three years.
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Asia’s factories hurting as trade uncertainty bites
TOKYO — Asia’s factory activity deteriorated in July as soft global demand and lingering uncertainty over US tariffs weighed on business morale, private sector surveys showed on Friday, clouding the outlook for the region’s fragile recovery.
·Manila, Philippines
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Asia's Factory Activity Worsens as US Trade Uncertainty Bites
·New York, United States
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Asia's factory activity worsens as US trade uncertainty bites
Asia's factory activity deteriorated in July as soft global demand and lingering uncertainty over U.S. tariffs weighed on business morale, private sector surveys showed on Friday, clouding the outlook for the region's fragile recovery.
·United Kingdom
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Total News Sources11
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
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