Chinese-US Imports Being Diverted To Canada Amid Trade War
(www.zerohedge.com)https://www.zerohedge.com/economics/chinese-us-imports-being-diverted-canada-amid-trade-warMany Chinese exports bound for the U.S. have been rerouted to Canada to skirt tariffs as the trade war continues to escalate between the U.S. and many of its international partners, Truenorth wire reports.
This means that, just like Europe which is facing a deflationary tsunami as Chinese dumping is unleashed on its now largest trading partner, Canadian consumers will soon have an abundance of discount goods as warehouse storage reaches its capacity.
As much as 50% of consignments from China were diverted to Canada in mid-April as many industries look to stockpile their inventory north of the border instead of in the US.
Third-party sellers for companies such as Amazon and Walmart have also begun to hoard goods in Canada so that their items may be held in a country where they won’t face any immediate payment of duties
