The escalating trade tensions between the United States and China have led to retaliatory tariffs being imposed by both countries. China recently imposed a 125% tariff on U.S. goods in response to President Trump's 145% tariff on Chinese products, impacting businesses involved in the significant $582.4 billion trade relationship between the nations, with Chinese exporters being predominantly affected.

In the city of Yiwu, which hosts the world's largest wholesale market, various business owners have expressed their concerns. Jiang Jiayu, the owner of Yiwu Jiayu Festive Supplies Co., highlighted a drop in Christmas orders from American customers and questioned the purpose behind the tariffs. Although feeling the financial strain, she expressed a reluctance to continue trading under such circumstances.

Wu Liying, who owns Xinyue Socks Co., foresees complications in overseas trade due to the new tariffs impacting profits for both clients and her business, emphasizing the importance of mutually beneficial cooperation.

Margaret Zhuang, an employee at a kitchen supplies factory, expressed deep concern over the high tariffs jeopardizing jobs and incomes. Her American client requested halting production in response to the increased tariffs, causing distress among her colleagues and herself, fueling fears of potential job loss amid the worsening economic climate. Zhuang, once hopeful for negotiation between the U.S. and China, now fears a bleak future unless a resolution is found.