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Trump’s sharp tariff hikes could speed up China’s shift to new markets and offshore factories

The share of China's exports going to the U.S. dropped from 19% in 2018 to 15% last year

A fridge magnet that reads “President Donald Trump 2024” is displayed at a store at the Yiwu wholesale market in Yiwu, east China’s Zhejiang province, Nov. 8, 2024. (AP Photo/Andy Wong)
A fridge magnet that reads “President Donald Trump 2024” is displayed at a store at the Yiwu wholesale market in Yiwu, east China’s Zhejiang province, Nov. 8, 2024. (AP Photo/Andy Wong)
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Chinese companies are becoming less reliant on the American market.

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