Want to Skip China Tariffs? Talk to Your Bank: Andy Mukherjee

The optimism around President Donald Trump’s promise of a “total reset” in relations with Beijing is fading fast; and that’s a worrying omen for US importers. For many, the urgency to look outside China for new suppliers is greater than it was during Trump 1.0.

The peak US tariff on Chinese goods during Trump’s first term was 21%; it is 51% now. Besides, there was a workaround back then. A lot of Chinese-made consumer goods entered America via an exemption from tariffs for parcels below $800 in value.

That cushioned the blow. The actual drop in imports from the People’s Republic may have been a ...