The escalating US-China trade war, fueled by President Donald Trump’s 145% tariff increase on Chinese goods, is impacting businesses and consumers. Cargo shipments have dropped 60%, threatening supply chains and sparking fears of product shortages.
60% Decline in Cargo Shipments Raises US Supply Chain Concerns
Companies like Walmart and Target predict rising prices, while businesses face shipping delays and cancellations. Experts warn of significant economic disruptions, including layoffs in retail and logistics, as ports struggle to manage erratic trade volumes.
Toymaker Basic Fun described the tariffs as a “de facto embargo.” Economists caution that even if tariffs ease, it may be too late to prevent a wider economic slowdown.
Follow us on:
Read More News at #latestmalaysia #BusinessNews and #WorldFuture
