During his first term as president, Donald Trump shook up global trade by imposing new tariffs on China, the world’s epicenter for manufacturing. Companies importing Chinese-made goods into the U.S. suddenly found themselves having to pay extra duties—sometimes 30% more—if they continued using that country as a supplier.
The response by U.S. businesses was swift: Many relocated at least some of their production from China to countries like Vietnam, India, and Mexico, which weren’t in Trump’s economic crosshairs.
