When Trump talks about tariffs on China, he stresses protecting American workers. But the jobs aren’t exactly coming back to America.
Gong Pengfei’s company, BUD Electronics, used to make Bluetooth speakers for the U.S. market, which accounted for nearly half of his revenue. But his staff is now a third of the size it was last year.
“Since the trade war started, pretty much all of our customers in the U.S. have switched to Vietnam, the Middle East, India, and Thailand because of lower labor cost and that they are targeted by the tariffs,” Gong said.
His remaining workers seem to have faith in the Chinese economy, where demand still exists domestically and from countries that aren’t the U.S.
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