A study Impacts of Section 301 Tariffs on Imports from China: Case Studies of Apparel, Footwear, Travel Goods and Furniture has called out the ‘detrimental economic impacts’ of the massive tariffs imposed on consumer goods from China, saying that the trade war has led to higher costs and prices for American companies and families. It also said that shifting away from China as a source of goods was costly and ‘not always successful’. [Joint Industry Study Flags Negative Impacts of Section 301 ... - AAFA]
The latest data in the CNBC Supply Chain Heat Map shows China is losing more manufacturing to Vietnam, Malaysia, Bangladesh, India, and Taiwan. Exports in furniture, apparel, footwear, travel goods and handbags, minerals, and science and technology are all declining. China’s ‘Zero Covid’ policy is a big factor, with Port of Ningbo, the world’s largest port, the latest to be impacted. [China, 'factory of the world,' is losing its manufacturing ... - CNBC]
Cambodia’s garment, footwear and travel goods industry has kicked off negotiations over a new monthly minimum pay for 2023, though talks remain in the early stages, the Southeast Asian nation’s wage board revealed Monday. [Cambodia Starts New Minimum-Wage Talks – SJ]
Cambodia's garment, footwear and travel goods industry has seen a 40% rise in exports in the first half of this year, according to a report from the General Department of Customs. The Regional Comprehensive Economic Partnership (RCEP) Free Trade Agreement has contributed to this growth [Cambodia's garment, footwear, travel goods exports up 40 pct in H1 of 2022 – Xinhua]
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