Reported 1 day ago
Ryan Petersen, CEO of Flexport, has issued a warning that aggressive tariffs on Chinese imports could lead to thousands, if not millions, of American small businesses facing bankruptcy in 2025. He highlighted that these tariffs have significantly reduced ocean freight bookings from China and stressed that many small businesses cannot shift their production outside of China, leaving them vulnerable to increased costs and disrupted supply chains. Petersen predicts substantial economic losses and warns that American brands may be acquired by their Chinese manufacturers as a result.
Source: YAHOO