Chinese producers of plastic Christmas trees and other festive decorations said on Wednesday (April 9) that orders from U.S. clients have slowed as both sides are cautious about the risk of rising import tariffs, putting them in a “wait-and-see phase.” - REUTERS
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00:00Chinese producers of plastic Christmas trees and decorations expressed worry on Wednesday.
00:07That's as U.S. President Donald Trump's tariffs took effect, including 125% duties on Chinese goods.
00:15China's Christmas industry said on Wednesday that orders from the U.S. have slowed,
00:20with both sides cautious about the risk of import tariffs rising further.
00:24These tariffs are the latest step in an escalating trade war that threatens great pain for China,
00:30the world's largest exporter of manufactured goods.
00:34U.S. retailers are almost completely reliant on the country for Christmas decorations, sourcing 87% of their goods here.
00:43Chinese factories are also heavily dependent on the U.S. market, where they sell half of what they make.
00:49Li Bo, a product developer at Jia Song Craft Factory, said before the latest tariff hike,
00:56U.S. clients asked his company to ship as early as possible.
01:00Now, he says, these clients haven't rushed for products and are in a wait-and-see phase.
01:05China's 84% retaliatory tariff on U.S. goods came into effect on Thursday.
01:11That's up from the previously announced 34%.
01:14American Christmas Tree Association's Jamie Warner said she's concerned as tariffs ramp up.
01:20We're really not sure how the consumer is going to react to this.
01:26But prices will definitely double for all of our products.
01:31And we don't know if that's sustainable.