Beijing is responding to President Donald Trump’s tariff hikes by pressing companies to find more non-U.S. suppliers and customers. But there are few substitutes for the United States as a market and technology supplier.
Surgical glove maker Ren Jiding is hunting for new markets. But the co-owner of Hongyeshangqin Medical Science and Technology Co., Ltd. in the eastern city of Zibo said none can absorb the 60 per cent of sales that went to American customers last year.
China has cancelled purchases of U.S. soybeans, leaving food processors and animal feed sellers scrambling to fill the gap.
The two sides have raised tariffs on $50 billion of each other’s goods in a dispute over Beijing’s technology policy. Trump is poised to impose penalties on an additional $200 billion of Chinese imports.