A recent surge in Hong Kong\u2019s exports masks a grim reality for frontline manufacturers, with some facing a sharp drop-off in new orders and bracing for renewed pressure on costs as a 90-day tariff truce between Washington and Beijing ends on Tuesday.<\/p>\n
Bryant Chan Wan-sing, president of toymaker the Wynnewood Corporation, said the sharp increase in orders during the truce was essentially a reinstatement of ones put on hold or cancelled when tariffs were introduced on US President Donald Trump\u2019s so-called Liberation Day on April 2.<\/p>\n
\u201cWe have maximised what we can produce and ship during this 90-day window already. Any orders received before Liberation Day that cannot be shipped during the truce will remain on hold for now,\u201d Chan said.<\/p>\n
\u201cWe are not seeing additional new orders either. So there is indeed a sharp contrast post-truce period, one that is similar to [the] pre-truce period.\u201d<\/p>\n
Hong Kong exports surged by 15.5 per cent in May from a year ago, with economists attributing the increase to the front-loading of shipments by businesses racing to beat the deadline.<\/p>\n
\u201cOur company remains financially challenged with exposure to material cancellation or orders that continue to be put on hold,\u201d Chan said.<\/p>\n","protected":false},"excerpt":{"rendered":"A recent surge in Hong Kong\u2019s exports masks a grim reality for frontline manufacturers, with some facing a…\n","protected":false},"author":3,"featured_media":45371,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[35177,35175,35180,64,74,31265,79,8464,35178,35176,50,15715,75,4352,67,30293,132,68,35179],"class_list":{"0":"post-45370","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-agnes-chan-sui-kuen","9":"tag-alvarez-marsal","10":"tag-andy-winthrop","11":"tag-business","12":"tag-china","13":"tag-customs-and-border-protection","14":"tag-economy","15":"tag-hong-kong","16":"tag-hong-kong-general-chamber-of-commerce","17":"tag-mainland-china","18":"tag-news","19":"tag-scmp","20":"tag-tariff","21":"tag-trump-administration","22":"tag-united-states","23":"tag-united-states-department-of-justice","24":"tag-unitedstates","25":"tag-us","26":"tag-us-false-claims-act"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114810708759512231","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/45370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=45370"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/45370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/45371"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=45370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=45370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=45370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}