New Delhi, June 24 -- Chinese manufacturers are shifting their focus to Europe, Germany and Southeast Asia as President Donald Trump's renewed tariffs threaten access to the United States, which has so far served as China's single largest export destination.
This sudden shift has impacted companies that are already established in Europe as they are now facing fiercer competition from Chinese rivals that previously served the US market.
Despite the sharp fall in US-bound shipments, trade data for May shows that exports to Europe have climbed 12 per cent from a year earlier, with shipments to Germany up by 22 per cent. Exports in Southeast Asian countries also rose 15 per cent, the Financial Times reported.
The US tariffs come at a time ...
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