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W-BEN

@thayale

Substantial tariffs were placed on ASEAN countries precisely because of transshipment. Cracking down on relabeling practices—often used in conjunction with transshipment—will prove to be a challenge, especially in countries with high corruption and close relations with China. Quote Robin Brooks @robin_j_brooks · 15h China's exports to the US fell sharply under the weight of US tariffs in April 2025, but its exports to everywhere else exploded. Tariffs are a huge deflationary shock for China. Lots and lots of goods are fighting to get to the US and are now heading there via third countries...
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