It's unreasonable! Chinese wholesalers fed up with tariffs as trade war escalates with US

Reuters Yiwu, Jinhua, Zhejiang, China May 10, 2019, 04.39 PM(IST)

File photo: US and Chinese flags are placed for a joint news conference. Photograph:( Reuters )

Story highlights

In Beijing on Friday, China's Commerce Ministry said it 'deeply regrets' the US decision, adding that it would take necessary countermeasures, without elaborating.

Wholesalers in eastern China expressed their dissatisfaction with US President Donald Trump on Friday, the day his administration followed through on its threat to raise tariffs on Chinese exports.

The US hiked levies on Friday to 25% for $200 billion worth of Chinese goods in the midst of last-ditch talks to rescue a trade deal. But even as Beijing threatened retaliation, negotiators in Washington agreed to stay at the table for a second day, keeping alive hopes of an eventual agreement.

Inside Yiwu International Trade City, one of the world's largest small commodity wholesale markets, several traders, all of whom mainly sell for export, told Reuters they were feeling fed up with the tariffs.

Make-up product vendor Chen Nong, whose company used to have four to five American clients and now has none, was one of them. Sports equipment wholesaler Fu Xubo, 32, had a similar story -- orders from his previous US clients have all but dried up, and sales to traders who buy from him to then re-sell to the United States were down 20% last year.

In Beijing on Friday, China's Commerce Ministry said it "deeply regrets" the US decision, adding that it would take necessary countermeasures, without elaborating.