It is basically this: How China has been preparing itself ahead of this tariffs eventuality with the US
The good news for the US is that perhaps this might even just be a temporary thing. After speaking to US retailers last week, Trump looks to have given some assurance of sorts as we're starting to even see a pick up in China container ships leaving for the US now:
Is this a start of a return to some form of new normality? If so, it's possibly a hint that the US will lower China tariffs as we look to talks over the weekend.
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