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Tariffs Hammer CN Export Sector; CN Factories Reportedly Forced to Cut Output, Give No-pay Leave to Workers
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US tariffs hammered China's export industry, and Chinese factories began to reduce production and ask their employees to take no-pay leave, according to the Financial Times. Chinese goods are facing a tariff of at least 145%. The report quoted some factory owners as saying that factories were forced to cut output because US customers canceled or delayed their orders. DEHONG(603701.SH)'s executives in Dongguan, Guangdong province, arranged for staff to take a one-month vacation, paying them only the minimum wage, and that the Company is facing significant short-term pressure after customers paused their orders, according to the report. AAStocks Financial News |
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