In response to the recent imposition of substantial U.S tariffs on Chinese imports, several American companies are actively relocating their manufacturing operations to mitigate financial risks and maintain competitive pricing.
Fashion retailer Steve Madden has announced plans to reduce its reliance on Chinese manufacturing by approximately 40% to 45%. The company intends to diversify its production across countries such as Cambodia, Vietnam, Mexico, and Brazil.
CEO Edward Rosenfeld stated, "We have been planning for a potential scenario in which we would have to move goods out of China more quickly. As of yesterday morning, we are putting that plan into motion."
Joining the shift is Breville, the Australian-American kitchen appliance brand known for its high-end coffee machines and smart ovens. Though Breville had long relied on Chinese manufacturing for its precision products, the company recently confirmed it will relocate a substantial portion of its production to Malaysia and Mexico. Executives cited both the new tariffs and ongoing geopolitical uncertainty as key drivers of the decision. "Diversification is not optional anymore - it’s essential," a company spokesperson said.
In the technology sector, Apple is accelerating efforts to diversify its production. The company plans to increase iPhone manufacturing in India to mitigate potential price hikes resulting from the tariffs. Apple's short-term strategy involves shipping approximately 25 million iPhones from India in 2025, covering about 50% of U.S demand.
Additionally, Apple is expanding the manufacturing of other products like iPads and AirPods in Vietnam, which also faces tariffs.
Nintendo, another major brand caught in the crossfire, is also adjusting its operations. Though headquartered in Japan, Nintendo relies heavily on Chinese factories to assemble popular consoles like the Nintendo Switch.
In response to U.S trade policy changes, the company has expanded production capacity in Vietnam to ensure continued supply to North American markets without facing tariff-related cost increases. It has also delayed preorders from the U.S for the upcoming Switch 2, while it is reevaluating the impact of tariffs on production and pricing.
The fashion industry at large is experiencing significant challenges due to the tariffs. Major brands such as Nike, Gap, and Ralph Lauren have seen stock declines of up to 30%.
The National Retail Federation and the American Apparel and Footwear Association have expressed concerns over potential job losses and reduced consumer confidence. The industry is likening the severity of this crisis to the COVID-19 pandemic, highlighting the profound impact of the trade war.
These developments highlight a trend of U.S companies reevaluating and restructuring their global supply chains in response to evolving trade policies and economic pressures.
Japan and the U.S. are facing tough trade talks as Tokyo resists quick concessions under tariff pressure from President Trump, preferring a balanced deal over a rushed agreement ahead of elections and amid broader tensions with China.
Hungarian Prime Minister Viktor Orban faces political challenges as U.S. tariffs threaten Hungary's economy. With opposition parties gaining momentum ahead of the 2024 elections, critics argue for a Europe-focused approach, criticizing Orban’s ties with Trump and his economic handling.
The IMF has lowered global and U.S. economic growth forecasts, citing Trump-era tariffs and rising uncertainty. Global growth is expected at 2.8% this year, while U.S. growth may slow to 1.8%, with heightened recession and inflation risks.
As trade tensions with the United States reach new heights, China has issued a firm rebuke to the Trump administration’s proposed tariffs of up to 245% on Chinese imports, dismissing the measures as a “tariff numbers game” and vowing not to yield to external pressure.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
Prince William and Princess Kate marked their 14th wedding anniversary Tuesday with a rare joint appearance on Mull and Iona, their first major public trip since the princess’s cancer treatment.
Estonia’s defense minister Hanno Pevkur says the U.S. will keep its 80,000 troops in Europe, calling bases like Ramstein and Naples crucial to NATO’s eastern shield and American power projection despite Washington’s growing Indo-Pacific focus.
Mark Carney walked into the Prime Minister’s Office on Wellington Street Tuesday morning, his first official act after steering the Liberals to a decisive election triumph and reclaiming the reins of Canada’s government.
Japanese Prime Minister Ishiba Shigeru and Philippine President Ferdinand Marcos Jr. agreed Tuesday to enhance economic and defense cooperation, affirming their opposition to any unilateral attempts to change the status quo in the East and South China Seas through force or coercion.
At the Three Seas Initiative summit, Polish President Andrzej Duda, Lithuanian President Gitanas Nausėda, and Croatian Prime Minister Andrej Plenković briefed reporters after talks with leaders from 11 Central- and Eastern-European states, underscoring regional cooperation on energy.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 23rd, covering the latest developments you need to know.
For three generations, the Liebigs built railcars in Görlitz. Now, the factory that shaped their lives will produce parts for battle tanks.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
Amazon says it never planned to display Trump-era tariffs on product pages, disputing a report that drew a sharp response from the White House.
Nearly 39,000 people have been deported to Mexico since U.S. President Donald Trump took office, and 33,000 of them are Mexican nationals, President Claudia Sheinbaum said Tuesday.
Prince William and Princess Kate marked their 14th wedding anniversary Tuesday with a rare joint appearance on Mull and Iona, their first major public trip since the princess’s cancer treatment.
Estonia’s defense minister Hanno Pevkur says the U.S. will keep its 80,000 troops in Europe, calling bases like Ramstein and Naples crucial to NATO’s eastern shield and American power projection despite Washington’s growing Indo-Pacific focus.
Mark Carney walked into the Prime Minister’s Office on Wellington Street Tuesday morning, his first official act after steering the Liberals to a decisive election triumph and reclaiming the reins of Canada’s government.
Prince William and Princess Kate marked their 14th wedding anniversary Tuesday with a rare joint appearance on Mull and Iona, their first major public trip since the princess’s cancer treatment.
Estonia’s defense minister Hanno Pevkur says the U.S. will keep its 80,000 troops in Europe, calling bases like Ramstein and Naples crucial to NATO’s eastern shield and American power projection despite Washington’s growing Indo-Pacific focus.
Mark Carney walked into the Prime Minister’s Office on Wellington Street Tuesday morning, his first official act after steering the Liberals to a decisive election triumph and reclaiming the reins of Canada’s government.
Japanese Prime Minister Ishiba Shigeru and Philippine President Ferdinand Marcos Jr. agreed Tuesday to enhance economic and defense cooperation, affirming their opposition to any unilateral attempts to change the status quo in the East and South China Seas through force or coercion.
At the Three Seas Initiative summit, Polish President Andrzej Duda, Lithuanian President Gitanas Nausėda, and Croatian Prime Minister Andrej Plenković briefed reporters after talks with leaders from 11 Central- and Eastern-European states, underscoring regional cooperation on energy.
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