Moscow, July 19 — “News. Economy.” More than 50 companies, including Apple and Nintendo have announced or are considering plans to move production from China to avoid U.S. duties, according to Nikkei Asian Review.

Photo: EPA-EFE/WU HONG

American PC manufacturers HP and Dell may transfer up to 30% of its production from China to Southeast Asia.

Apple has previously asked its major suppliers to assess the financial implications of the shift from 15% to 30% of production capacity from China to India.

Meanwhile, the Japanese Nintendo is going to move part of the production of game consoles from China to Vietnam.

Several Chinese companies are also leaving the country.

Chinese electronics manufacturer TCL takes production of television sets in Vietnam, while a Chinese tire maker Sailun Tire moves its production line in Thailand.

Protracted trade war seem to impact on the Chinese economy.

As reported “Vesti. Economy,” China’s GDP in the II quarter grew by only 6.2% in annual terms, the minimum rate at least 27 years, after increasing by 6.4% in the first quarter.

The leaders of the United States and China during the meeting in late June agreed to resume trade negotiations. However, following the meeting has not been set any deadlines for progress on the deal. The lack of agreement between the two largest economies continues to create uncertainty for companies and investors.

The US President Donald trump said Tuesday that Washington and Beijing “will go a long way” in trade negotiations. He also noted that Washington could impose duties on goods from China worth a further $325 billion if required.

Read more •••

LEAVE A REPLY

Please enter your comment!
Please enter your name here