(10 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Yiwu, China – 10 April 2025
1. Various aerials of Yiwu International Trade Market ++MUTE++
2. Wide interior of the market
3. Various of toys on display
4. Various of booths of fashion accessories
5. Various of woman in a booth of party poppers
6. Various of party poppers on display
7. SOUNDBITE (Mandarin) Jiang Jiayu, exporter of party poppers:
“The U.S. market is not a very big part of our business, so it’s not a big deal for us. At worst, we just quit it. We will not lose money just to keep the market. The profit of exporting from Yiwu is already low. What’s point of doing the business if we cannot guarantee our little profit, right?”
8. Various of toy cars in the market
9. SOUNDBITE (Mandarin) Jiang Jiayu, exporter of party poppers:
“The problem is will it (Trump’s tariffs) work? Can the U.S. produce what China, or Yiwu is producing now? Ordinary people are the ones who will get hurt the most by the tariffs. I don’t think he (Trump) can continue his behavior for long.”
10. Various of artificial Christmas trees
11. Various of woman at her booth of Christmas decorations
12. SOUNDBITE (Mandarin) Ding Dandan, exporter of Christmas decorations:
“Do you know 90% of Christmas related goods in the U.S. are from China? If China does not export them, the U.S. will not be able to import such large amount of goods from elsewhere, right?”
13. Various of Ding’s booth
14. SOUNDBITE (Mandarin) Ding Dandan, exporter of Christmas decorations:
“In recent years, the profit of foreign trade has been getting pretty low. No factory can afford to operate under such high tariffs."
15. Various of the market
16. Various of woman in her booth of stockings
17. Close pan on samples of stockings
18. SOUNDBITE (Mandarin) Wu Liying, exporter of stockings:
“We are definitely worried that it will be harder and harder to do business. Our clients will have no profit to make, and neither will we. It will be more and more difficult, right? We are all in the business to make money, but if nobody makes money, the purpose of win-win cooperation will no longer exist, right?”
19. Various of jewellery accessories booth
20. Various of the market
STORYLINE:
U.S. customers for Jiang Jiayu’s party poppers would normally be placing their Christmas orders at this time of year, but as commercial tensions between Washington and Beijing have escalated to a full-blown trade war, those orders aren’t coming in.
Jiang and her husband run Yiwu Jiayu Festive Supplies Co. in the eastern Chinese city of Yiwu, home to the world’s largest wholesale market.
Products from Yiwu – ranging from soft toys and stockings to glass vases and portable toolboxes – are sold in stores and on online platforms around the world, including to U.S. consumers on Amazon.
The U.S. accounts for around 10% of Jiang’s exports.
But she said she would rather pull out of the market completely than pay the hefty tariffs U.S. President Donald Trump has announced on Chinese exports.
“At worst, we just quit it,” she said. “We will not lose money just to keep the market.”
In the long run, she believes that Trump’s gambit will backfire.
“Can the U.S. produce what China, or Yiwu is producing now?” she asked. “I don’t think he can continue his behavior for long.”
Facing the cratering of global markets, Trump on Wednesday backed off his tariffs on most nations for 90 days, saying countries were lining up to negotiate more favorable conditions.
But he raised the tariff on Chinese imports to 125%, hours after China boosted the duty on American goods to 84%
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