Reference News website reported on May 27th according to a report on May 25th on the website of the US "Wall Street Journal", Adam Lib is racing against time to ship out electronic typewriters worth $700,000 from China before the trade truce period ends.

In March this year, when President Trump imposed a new tariff of 20% on Chinese goods, this Detroit businessman paid $23,000 in tariffs. And when the US government subsequently increased the tariff to a staggering 145%, Lib decided to suspend all shipments entirely.

This month, after reaching a trade truce agreement between China and the US, Lib's company (mainly dealing with typewriters, keyboards, etc.) seized the opportunity to replenish inventory.

The report said that previously, extremely high tariffs had severely impacted Sino-US trade. Now, with the truce in place, demand is rebounding. Companies across the United States are scrambling to rebook canceled orders and抢购container ship space to transport products from China to the US during the truce period.

Data from VesselsValue global shipping order tracking system and Dun & Bradstreet, a data provider, showed that during the week starting May 12th, container booking volumes from China to the US more than doubled compared to the previous week as suppressed demand surged with the rollback of tariffs.

The report said that Lisa Wang (pronounced), a salesperson at a textile manufacturer in Zhejiang Province, China, said that the truce period was greatly beneficial to her company. The company has shipped about 12 containers of backlog orders, mainly mattress protectors and pillows. Meanwhile, customers are placing some new orders.

She said: "Because we don't know what the policy will be later, we are trying to ship as much as possible in the meantime."

The report said that executives in the Asian shipping industry stated that one of the major challenges for importers is the lack of enough vessels to immediately transport goods to the US, as shipping companies had previously diverted some vessels from China to the US West Coast routes to other busy routes due to the tariff impact on Sino-US trade. Shipping executives said that some companies replaced larger container ships with smaller ones, while others completely canceled some scheduled voyages.

Now, American importers are competing for scarce space, shipping companies are rushing to bring back vessels, and freight prices continue to rise.

However, for many industries, the truce period may not be sufficient to complete product ordering, production, and trans-Pacific transportation.

Vincent Ambrose, Chief Commercial Officer of Fullan Waishi Technology Co., Ltd., said that the truce period is insufficient to rush work and stockpile additional inventory. His company produces home energy storage systems in California and Shenzhen, China. He said that even if he had the ability to do so, he could not compete with large enterprises such as Amazon, Apple, and Walmart for scarce container ship space heading to the US. (Translated by Liu Yun)

Original article: https://www.toutiao.com/article/7508947563480711690/

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