The media learned about the suspension of some factories in China due to increased US tariffs

Some Chinese industrialists are suspending production and looking for new markets due to the impact of US duties. CNBC reported this on April 28, citing companies and analysts.

"Chinese manufacturers are suspending production and entering new markets as the impact of U.S. tariffs intensifies <...>. Lost orders are also hitting jobs," the report said.

According to CNBC, the most affected by the duties were companies producing toys, sporting goods and inexpensive products. In addition, Cameron Johnson, a senior partner at the Shanghai-based Tidalwave Solutions consulting firm, said that despite the hope for tariff reductions, companies continue to send employees on vacation.

The broadcaster drew attention to the fact that Goldman Sachs estimates that a total of 10-20 million workers in China work in export companies focused on the United States.

As Ash Monga, CEO of Imex Sourcing Services, a Guangzhou-based supply chain management company, notes, the impact of the increased tariffs turned out to be stronger than the "impact of the COVID-19 pandemic." He stressed that trade duties can destroy small businesses.

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Earlier, on April 27, the South China Morning Post (SCMP) newspaper reported that companies in the People's Republic of China (PRC) were moving their production to the United States to avoid high tariffs. According to Zhu Ning, the head of a consulting firm that helps Chinese enterprises partially relocate production to the United States, his company has received at least 100 requests to transfer business from China to the United States over the past four months.