The firms cited U.S. import tariffs on Chinese-made goods—implemented by the Trump administration as part of its trade war with Beijing—as a major factor in the decision. (Bloomberg)
Talking point: These are the latest American firms to say they are looking to shift manufacturing outside China; GoPro and HP have announced they’ll move parts of their business outside the country, and Apple is currently fighting the White House to get its products off a list of Chinese-made goods that will be subjected to additional tariffs on December 15. Meanwhile, China has offered to increase its purchases of U.S. agricultural products by US$3.25 billion to ease tensions ahead of trade talks, which are scheduled to resume tomorrow. The offer comes a day after the U.S. added 28 Chinese companies to its blacklist, including the country’s leading artificial intelligence manufacturers—a crucial industry for China’s tech sector.