The 145% tariff on Chinese imports, previously imposed by President Donald Trump, has reportedly put Walmart and Target supplier’s Huntar Company Inc.’s factory in China at risk of shutting down.
What Happened: The tariff, which was effective from April 9, has caused a significant decline in orders for toys from the Huntar factory in Guangdong Province, China. The factory, a supplier of educational toys for Walmart Inc. (NYSE:WMT) and Target Corporation (NYSE:TGT), has already reduced production by 60% to 70% and downsized a third of its 400 Chinese workers, reported Reuters.
Huntar CEO Jason Cheung is now attempting to move his operations to Vietnam before the company’s funds are exhausted. The factory’s situation reflects the crisis faced by many factories in China, where approximately 80% of toys sold in the U.S. are manufactured.
The U.S.-China trade war poses risks to the sector in both countries, and Huntar, though …
Full story available on Benzinga.com
The 145% tariff on Chinese imports, previously imposed by President Donald Trump, has reportedly put Walmart and Target supplier’s Huntar Company Inc.’s factory in China at risk of shutting down.
What Happened: The tariff, which was effective from April 9, has caused a significant decline in orders for toys from the Huntar factory in Guangdong Province, China. The factory, a supplier of educational toys for Walmart Inc. (NYSE:WMT) and Target Corporation (NYSE:TGT), has already reduced production by 60% to 70% and downsized a third of its 400 Chinese workers, reported Reuters.
Huntar CEO Jason Cheung is now attempting to move his operations to Vietnam before the company’s funds are exhausted. The factory’s situation reflects the crisis faced by many factories in China, where approximately 80% of toys sold in the U.S. are manufactured.
The U.S.-China trade war poses risks to the sector in both countries, and Huntar, though …
Full story available on Benzinga.com
The 145% tariff on Chinese imports, previously imposed by President Donald Trump, has reportedly put Walmart and Target supplier’s Huntar Company Inc.’s factory in China at risk of shutting down.
What Happened: The tariff, which was effective from April 9, has caused a significant decline in orders for toys from the Huntar factory in Guangdong Province, China. The factory, a supplier of educational toys for Walmart Inc. (NYSE:WMT) and Target Corporation (NYSE:TGT), has already reduced production by 60% to 70% and downsized a third of its 400 Chinese workers, reported Reuters.
Huntar CEO Jason Cheung is now attempting to move his operations to Vietnam before the company’s funds are exhausted. The factory’s situation reflects the crisis faced by many factories in China, where approximately 80% of toys sold in the U.S. are manufactured.
The U.S.-China trade war poses risks to the sector in both countries, and Huntar, though …Full story available on Benzinga.com Read Morebenzinga neuro, China Tariffs, China Trade Deal, Donald Trump, MAT, News, TGT, trade war, us china, WMT, Economics, Markets, General, MAT, US5770811025, TGT, US87612E1064, WMT, US9311421039, News, Economics, Markets, General, Benzinga Economics
