Transhipment crackdown not a big threat to China’s exports
We agree with the White House’s assessment that China’s indirect exports to the US have risen sharply since US tariffs first came into force. But it remains unclear how much of this is illegal transhipment versus legal trade diversion, which will make it difficult for the US to judge the efficacy of any crackdown on the former. And stricter US customs enforcement is unlikely to dent China’s export strength.
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