What Trade War? China’s Export Juggernaut Marches On
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[–><!–>Last week, Mr. Trump reduced the tariffs he imposed on China, though they remain at heights not seen in decades. He insists that his tariffs will force a revival of American factories and create jobs — a pledge that is contested by many economists and manufacturing experts. It is also unclear how effective his policies will be in stemming the flow of goods that originate in China and route through other countries before arriving in the United States.–><!–>
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[–><!–>For years, Americans have turned to China to outfit their homes and stock their offices. While the volume of Chinese exports remains enormous, the declines this year are widespread and drastic. The United States is buying less of almost everything from China:–><!–>
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[–><!–>China’s exports of phones 47% and computers 54% to the United States were among the categories that declined the most. Mr. Trump exempted such consumer electronics from most of his tariffs this year, but Apple, Hewlett-Packard and other manufacturers have continued to diversify their supply chains outside China. The United States now gets most of its smartphones from India and its laptop computers from Vietnam, according to the latest U.S. government data.–><!–>
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[–><!–>After decades of top-down priorities established by Beijing’s industrial policies, China has become the world’s leading producer of cars, batteries and solar panels. Struggling consumer demand in its domestic economy has put even more pressure on Chinese companies to find new business abroad.–><!–>
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[–><!–>China also produced record amounts of steel over the past few years. This is now sold across the world at prices sometimes cheaper than bottled water.–><!–>
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