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CN Suppliers Flock to Export to Avert Trump's Tariffs; SZ Yantian Port Reportedly Congested
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Chinese manufacturing industries flocked to export ahead of the Chinese New Year holiday before U.S. President Donald Trump's tariff hikes on China come into effect, causing congestion at Shenzhen's Yantian port, Reuters reported. Yantian port already increased its daily container handling quota by 15% to 15,000 units from the 20 to 28 January in response to the demand. The report quoted the industry as saying that factories were in a hurry to export before the holidays, and that the congestion was wrought by the limited container quota and container yard space at the port. Container trucking charges also ascended due to the congestion at the port, with the cost of traveling from Shenzhen's Fuyong to Yantian port rising radically from RMB1,000 to RMB2,500, and the unloading fee may be raised by an additional RMB1,000. AAStocks Financial News |
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