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Trade War Update: China Subverts Tariffs, | BLOG Certified
Chinese exporters (and likey their American counterparts) have figured out a way for some items to skirt tariffs. U.S. Customs and Border Protection determined last week that Chinese hardwood plywood is circumventing lumber tariffs by using Vietnam , Panjiva Research pointed out on Monday. The end-around is expected to have begun when duties were applied to certain types of lumber worldwide back in January. Shipments from ports in Vietnam continued through July, and imports from China rose a whopping 165.4%, creating what looks like a whole new market out of nothing. The supply chain for certain types of construction wood has also shifted out of Panama and Portugal, but there is no evidence there that mainland China is the source of that wood. Business owners who could not be quoted on the record said similar moves were being made with steel and aluminum, going from China to Vietnam. The China-U.S. trade war started December off on a high note. Presidents Trump and Xi Jinping agreed to