By Alex 
On April 16th, the White House claimed that China could face tariffs as high as 245% on products imported into the US. However, industry insiders clarified that this figure represents the maximum tariff rate currently applied to certain Chinese goods, rather than a new across-the-board tariff.
Yiwu International Trade City: A Global Trade Hub
Yiwu, known as the “world supermarket,” is a bustling center for international trade, with merchants exporting goods to nearly every country. The city’s diverse export portfolio and strong trade links with countries along the Belt and Road Initiative (BRI) have helped it weather the impact of US tariff policies. In 2024, Yiwu’s total imports and exports reached 668.93 billion yuan, with exports accounting for 588.96 billion yuan. The city’s trade with Africa, Latin America, and ASEAN countries grew significantly, with year-on-year increases of 16.4%, 24.4%, and 26.2%, respectively
Impact on Yiwu Merchants
Many Yiwu merchants report minimal impact from US tariff changes. A majority of the city’s exporters focus on markets in the Middle East, Latin America, and Africa, with few direct clients in the US. For example, a hardware merchant in Yiwu mentioned that although a US client recently put a 10-million-yuan order on hold due to tariffs, this did not significantly affect his business, as the US market accounts for less than 7% of his annual revenue.
However, some merchants who do have US clients have felt the impact. One merchant noted that their US clients are adopting a wait-and-see approach due to the uncertainty of US tariff policies. Despite this, many Yiwu businesses remain optimistic and are exploring new markets to offset any potential losses from the US market.
Case of Yiwu Jiwei Bear Home Furnishing Co., Ltd.
Yiwu Jiwei Bear Home Furnishing Co., Ltd., which specializes in various types of car cups, has clients in 26 countries and regions across five continents, with nearly 30% of its revenue coming from US clients. The company’s owner, Tao Yang, told reporters that despite the US tariff changes, their new product development with US clients has not been disrupted, and orders are still being confirmed. However, she acknowledged that if US tariffs remain high, they may need to diversify their market focus further.
Future Outlook
Yiwu’s merchants are confident in their ability to adapt to changing trade conditions. With a robust and flexible supply chain, as well as a global customer base, Yiwu is well-positioned to continue thriving in the face of US tariff policies. The city’s growing trade with BRI partner countries and its diverse export portfolio are seen as key factors in maintaining its resilience.