"A recent raft of data shows reasonable success from efforts by the United States, the European Union, and Japan to diversify sourcing away from China. China’s trade with each of these important markets has diminished appreciably...
Imports of the former from both India and Vietnam have each quadrupled, albeit from a low base...
This picture, as far as it goes, certainly does speak to a considerable degree of decoupling from China by some of the world’s most powerful economies. Nor is it likely to reverse any time soon. It has been building for years. It began for the United States in 2018 when then-President Donald Trump imposed steep tariffs on Chinese goods coming into the country. He added to those tariffs in 2019.
"
Maybe we can do more under Trump II...We need to really work on getting India on board and Brazil back on our side. Lula has got to go,
Imports of the former from both India and Vietnam have each quadrupled, albeit from a low base...
This picture, as far as it goes, certainly does speak to a considerable degree of decoupling from China by some of the world’s most powerful economies. Nor is it likely to reverse any time soon. It has been building for years. It began for the United States in 2018 when then-President Donald Trump imposed steep tariffs on Chinese goods coming into the country. He added to those tariffs in 2019.
"
Maybe we can do more under Trump II...We need to really work on getting India on board and Brazil back on our side. Lula has got to go,