The US-China trade war is in full force as the tariffs keep rising.
Last week the tariffs were raised from 10% to 25% on the $200 billion in products imported from china to the US.
And Trump is threatening to slap tariffs on the remaining $300 billion on Chinese manufactured products that have not been affected so far.
China is not taking this lying down. It is retaliating as the state media says that China will not back done. And it will add tariffs on $60 billion worth of US imports…
Rather than speculate on the outcome (nobody knows for sure) let’s see what we can do about the trade tariffs to minimize the impact if you’re importing products from China.
Clearly it doesn’t take a genius to conclude that you should at least consider consider sourcing away from China to avoid the tariffs.
Countries such as Vietnam, India, Mexico and others are gaining attention as alternatives to sourcing from China. They offer lower labor costs, and an escape from the tariffs.
However finding suppliers from those other places may open up a whole new can of worms including lower product quality, lower worker productivity, dubious logistics, and more dishonesty.
To learn more, checkout this guest article I wrote for Jungle Scout where I discuss the good, the bad, and the ugly sides of sourcing away from China.
Also If you missed it, I highly recommend you check out my webinar with Greg Mercer (Jungle Scout founder) on how to reduce the impact on your ecommerce business by considering sourcing away from China. We discuss ways to source that most people are not aware of (and no not on Alibaba).
To be continued!