China’s war on the American economy started long ago with intellectual property theft, high tariffs, and other unfair trade practices that past presidential administrations refused to confront. With Donald Trump in the White House, Beijing’s actions have consequences.
“Make no mistake about it, the trade war is absolutely remapping global supply chains … to the detriment of Chinese manufacturing,” Kenneth Rapoza wrote in a recent article and he’s right.
Companies have been exiting China ever since the trade war began and now many more are making plans to move.
“The reality is many companies have been thinking about leaving, anyway,” said William Reinsch, a trade expert at the Center for Strategic and International Studies. “Labor costs are going up in China, the regime is repressive, and American companies continue to suffer discrimination.”