US-China Trade
US firms scrambled on Monday to file claims for refunds on tariffs paid for Chinese imports, deemed illegally collected by the government. Companies like New Jersey-based food packaging importer Lanca Sales are navigating the new system through customs brokers, amid fresh confusion and administrative burdens.
Ti AI ṣe iroyin
The European Union Chamber of Commerce in China has released a report urging European companies to eliminate single-source dependencies on both China and the United States. It highlights how firms are squeezed between Beijing's preferential policies for local companies and Washington's trade volatility. The chamber stresses that recent geopolitical shocks underscore the urgent need for supply chain diversification.